SBA CARES Act
Paycheck Protection Program

 

The SBA Paycheck Protection Program (PPP) was created to help small businesses keep workers employed during the COVID-19 crisis. As a Small Business Administration (SBA) Preferred Lender, Tri Counties Bank was able to provide PPP loans to small business customers throughout California.

Tri Counties Bank is no longer accepting new PPP loan applications. If you have questions about your current PPP loan application already in progress, please contact your local banker or call 1-800-982-2660.

Latest PPP Updates from the SBA

Coming Soon: PPP Loan Forgiveness Online Application

PPP lenders, such as Tri Counties Bank, are awaiting final guidance from the SBA on the loan forgiveness process. Therefore, the SBA recommends that PPP borrowers do not complete loan forgiveness applications at this time. PPP loan payments are currently deferred for all customers, including principal and interest.

We expect to begin accepting loan forgiveness applications within the coming weeks. Please note that PPP loan forgiveness applications will only be accepted through our online application system. This will ensure more timely processing of loan forgiveness requests.

Current Tri Counties Bank PPP Loan Customers: You will be sent an invitation to apply with a link to the online application portal. Invitations will be sent via email and USPS mail.

Note: The PPP loan forgiveness period (time in which qualified expenses can be spent) was extended from eight weeks to 24 weeks from loan funding date. Click here to read more information from the SBA.

Loan Forgiveness Required Documents

We have provided links below to the SBA’s loan forgiveness application instructions for reference as you prepare your supporting loan forgiveness documentation. Please note you will be required to apply for loan forgiveness through our online application portal.

SBA's Standard Forgiveness Application

SBA's Forgiveness Form 3508EZ*

*Form 3508EZ applies to borrowers who meet any one of these three criteria:

  • Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees.

  • Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excluding laid-off employees who refused an offer to return).

  • Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

View Our PPP Loan Forgiveness Webinar.

Tri Counties Bank partnered with Moss Adams, a leading accounting and tax firm, to create a webinar to provide you with expertise and guidance throughout the loan forgiveness process.

Read Questions & Answers from our PPP Loan Forgiveness Webinars here

Recorded June 4, 2020