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 since 2003, Tri Counties Bank is participating in this program.

We are currently accepting applications through our online application portal only. We are unable to process applications in our branches or over the phone.

Please note: We are not able to accept PPP applications from non-customers at this time. You must have been a Tri Counties Bank loan or deposit customer as of February 15, 2020 in order to apply through Tri Counties Bank.

APPLY NOW

Important information regarding PPP loan forgiveness:
We understand how crucial these loans are for the survival of small businesses. We encourage you to review our Loan Disbursement and Forgiveness FAQs. For more information on PPP loan forgiveness, visit the SBA’s website.

Key benefits of the Paycheck Protection Program (PPP):

  • A PPP loan will provide working capital to business owners for payroll and operational expenses during the COVID-19 crisis.

  • Loan proceeds may be used for payroll, rents, mortgage payments, utility costs and healthcare insurance.

  • Payment on funds exceeding the forgiven limit may be deferred for 6 months.

  • No collateral or personal guarantee is required.

  • No fees to the borrower.

  • 2-year loan term.

  • No prepayment penalty.

What entities are eligible for the PPP loan?

  • For profit and non-profit entities with less than 500 employees.

  • Applicants must provide a Certification detailing negative economic and financial impact of COVID-19.

  • Applicants must have had paid employees as of 2/15/2020.

How does the loan work?

  • Loan amounts for PPP cannot exceed 2.5 times the average monthly payroll and cannot exceed $10 million.

  • Loan forgiveness applies to qualified expenses. Please review our Loan Disbursement and Forgiveness FAQs. For more information on PPP loan forgiveness, visit the SBA’s website.

  • The remaining, unforgiven portion of the loan is re-amortized over the remaining term of the loan.



This is not a commitment to lend. All loans are subject to program requirements and availability of funds under the SBA PPP Program. Your application to participate in the Paycheck Protection Program is subject to SBA approval.