Paycheck Protection Program (PPP) Support

The SBA is opening the Paycheck Protection Program portal on Friday, 1/15, to lenders with $1 billion or less in assets. Borrowers can now submit their new or second draw loan application for processing.

Borrowers submitting a second draw application will be required to provide documentation proving a 25% reduction in gross receipts.

MAJORITY OWNERS AND STAFF

Current PPP regulations prohibit banks from originating and funding loans to their majority owners and staff. BBOK can provide a direct loan for these needs.

  • Refer their application and all supporting documentation to BBOK, who acts as the lender.
  • BBOK will originate, fund and manage the loan.

REFERRAL PROGRAM

If you need extra resources to process applications:

  • Refer your application and all supporting documentation to BBOK, who acts as the lender.
  • Your bank will receive the agent fee based on the percentages outlined by the PPP program.

DOCUMENTATION

Our processes include these documentation requirements:

BBOK Application Checklist – 1st Draw Borrowers

BBOK Application Checklist – 2nd Draw Borrowers

New Borrower PPP Application Form (Rev. 1-8-2021)

Second Draw Borrower Application Form (Rev. 1-8-2021)

Beneficial Ownership Form

Due to the high volume of applications, we request that you provide all of the information indicated on the checklist before submitting an application. Once we receive a completed package, we will verify the information and upload the application. We appreciate your assistance in making this a smooth and timely process.

Once complete, upload your documentation securely to our SAFe platform.

For assistance with downloading documentation, contact Amanda Williams | 1.800.999.5725.

For SAFe account activation or password reset, contact Dennis Willey | 1.800.999.5725.

 

If you have an interest in partnering with BBOK or would like to learn more, please contact: Craig Ellis, Tim Binns or Alison Clutter at 1.800.999.5725.