January 19th Update
On January 19, 2021, the SBA announced a new requirement relating to the documentation borrowers must provide to demonstrate at least a 25% reduction in revenue.
Applicants with loan amounts greater than $150,000 will be required to sign and date—thereby attesting the accuracy of the information provided within—the first page of financial statements and initial all other pages of the documents provided to the SBA to validate their having at least a 25% reduction in revenues.
Below is a link supplied by the SBA that provides instructions on how to calculate revenue reduction and maximum loan amounts along with how to document your request.
SBA Now Accepting Applications
The SBA made their submission platform available to all banks, including First Community, on Tuesday, January 19, 2021.
Sign in to the First Community PPP Portal - be sure you have your loan number, email address, tax ID number and social security number
Things to Keep in Mind
We will update this page again when new information becomes available. If you have any questions in the meantime or if there is anything we can do to help, please do not hesitate to reach out to your First Community banker.
We care deeply about you and your business. As we navigate these unusual times together, we're here to be a reliable source of information and to guide you through the PPP application process. Due to eligibility limitations and overall levels of Congressional appropriation, we can't guarantee that the SBA will be able to approve everyone's application, but you can count on us to help however we can. We're here for you.