As Always, We Are Here to Help

The world is facing an unprecedented challenge, and like you, we are deeply concerned and want to do what we can to help our customers and communities hit hardest by the COVID-19 Pandemic. We’re here to help and will continue working hard to provide the level of service you have come to expect. As new developments emerge, we will share information with you about our plans to operate safely.

For updates on the coronavirus, visit the Centers for Disease Control and Prevention (CDC)  or World Health Organization (WHO).

 

Important Information

Click a topic below for more information:

Applying for A First-Time PPP Loan or Second Draw PPP Loan

Applying for PPP Loan Forgiveness

COVID-19 Relief Bill

PPP Second Draw Loans

A Guide to the CARES Act

Alternative Ways to Bank With Us

We Are Here to Help

Tools and Resources

 


Applying for a first-time PPP Loan or Second Draw PPP Loan

FIRST-TIME PPP LOAN

To apply for a first-time PPP Loan, Select this link. Here, you can download and complete the provided application, and submit all requested files using our secure online form.

 

SECOND DRAW PPP LOAN

To apply for a Second Draw PPP Loan, visit our online portal at https://banksocalppp.force.com. Here, you can create an account by simply selecting ‘New PPP Applicant? Sign Up’.


 

Applying for PPP Loan Forgiveness

It is highly recommended that borrowers review the PPP Loan Forgiveness Next Steps and Required Documentation after being approved for a PPP loan.

The Forgiveness Process

Businesses who applied for PPP funding though Bank of Southern California will follow the steps outlined below to begin the forgiveness process:

  • When it is time to apply for forgiveness, borrowers will receive an email with a link to the forgiveness portal to begin the forgiveness process.
  • Once an entity has registered using the email link provided, they may return to the loan forgiveness portal here.
  • Contact the Bank of Southern California banker who assisted you with the PPP application with any questions.

PPP Forgiveness Resources

Below you will find a few resources to help guide you in applying for PPP Loan Forgiveness:

  • Select this link to download the PPP Forgiveness Cheat Sheet.
  • To learn more about applying for PPP loan forgiveness, including required documentation, calculations, and more, select this link here to view our quick guide.

 

 

COVID-19 Relief Bill

Congress recently passed a $900 billion economic relief package that includes dedicated coronavirus-fighting funds along with financial relief for both individuals and businesses. The bill, signed into law on December 27, 2020, features a stimulus package that restarts PPP.  This round of PPP covers three types of loans:

  • PPP loans for first time borrowers who didn’t receive a loan in round one.
  • Second Draw PPP Loans for existing PPP borrowers who are in need of additional funding.
  • Businesses that returned their first PPP loan or did not receive the full amount for which they qualified for in round one.

Select this link to learn more.

 

 

 

PPP Second Draw Loans

The relief bill provides a second loan from the Paycheck Protection Program, called a PPP Second Draw Loan, specifically for smaller and harder-hit businesses. The maximum loan amount is $2 million.

The bill features $284.5 billion in new funding, in addition to the $525 billion previously distributed under the initial program. New funding is available to first time PPP borrowers in addition to those that participated in the first round of loans.

Applications will be accepted through March 31, 2021.

Select this link to learn more.

 

A Guide to the CARES Act

As your commercial banking partner, Bank of Southern California has developed the following resource
to help small businesses affected by the Coronavirus obtain necessary funding. As always, we
are here to help. Should you have any questions, or would like to get started with one of these
programs, please contact your account officer or local branch to learn more.

Select this link to download the guide.

Important to note, the first round of PPP funding has been exhausted. 

 

Alternative Ways to Bank With Us

To help minimize risk, we encourage you to use our online and mobile banking tools and resources for 24/7 account access. From there, you can make deposits to your account, payments to others, view account activity, check your balances, download statements, and much more. There is no monthly fee or per account charges.

Select this link to learn more about alternative ways to bank.

 

We Are Here to Help

As always, our team is available to help. Should you have any questions regarding available financing solutions, please contact your account officer, visit your local branch, or call 844.BNK.SOCAL.

 

Tools and Resources

The information provided below is to help businesses impacted by the COVID-19 Pandemic.

A Guide to the COVID-19 Relief Bill and PPP Second Draw Loans
Recently, the relief bill was signed into law, re-opening the SBA’s Paycheck Protection Program (PPP). While we are awaiting specific details, this guide provides an overview of the long-awaited program.

A Guide to the CARES Act
The CARES Act was designed to help small businesses survive and recover from losses suffered during the Coronavirus outbreak. Key components include loan programs from the SBA, changes to business tax filing requirements, and modifications to unemployment benefits

COVID-19 Resources
A list of resources to assist local businesses impacted by the coronavirus.

 

To help protect you from potential coronavirus scams, we have provided the following informative article:

Miscellaneous Information: