Paycheck Protection Program
All PPP applications must be submitted by 5pm May 4, 2020 for funding consideration. We will not be accepting applications after May 4, 2020.
Paycheck Protection Program (PPP) is a federal relief program established by Congress and implemented by the U.S. Treasury Department and the SBA with rules, requirements, protocols and processes that all participating banks, including Industrial Bank, must follow. In order to ensure an orderly flow of these government-provided funds, we will follow the intent of the U.S. Treasury guidance, including what has been posted at the U.S. Treasury website, that businesses that plan to apply should do so with their current business loan provider. A client’s pre-existing lending relationship with us may include small business, commercial or corporate credit cards, conventional business loan or lease, business lines of credit, and asset-based loans. This is the best and fastest method for applying for federal relief, based on the U.S. Treasury requirements and guidance. All applications, information and correspondence about the Paycheck Protection Program at Industrial Bank will occur online and through email, including the application process, submission of required documents, and follow up correspondence. NOTE IF THE BUSINESS FAILS TO SUBMIT ALL THE DOCUMENATION REQUIRED THE APPLICATION WILL BE CONSIDERED INCOMPLETE AND WILL NOT BE SUBMITTED FOR PROCESSING. Below is a high level overview of the program: