IMPORTANT: National Bank of Arizona will be making security upgrades to our digital systems on Tuesday, June 23, 2020. To see how you can be prepared for this update, please click here . Thank you, National Bank of Arizona.
SMALL BUSINESS ADMINISTRATION PAYCHECK PROTECTION PROGRAM
SMALL BUSINESS ADMINISTRATION PAYCHECK PROTECTION PROGRAM
SMALL BUSINESS ADMINISTRATION PAYCHECK PROTECTION PROGRAM
PAYCHECK PROTECTION PROGRAM UPDATE
UPDATE: May 6, 2020 5:00 P.M. PT
Over the past several weeks, National Bank of Arizona has helped thousands of businesses receive much-needed funding through the Small Business Administration’s (SBA) Paycheck Protection Program.
As of May 6, National Bank of Arizona has obtained approval and/or funding for 4,660 loans totaling $767.4MM.
- Approximately 80% of the loans approved through National Bank of Arizona were for less than $150,000.
- More than 87% of loans were made to businesses with fewer than 50 employees.
- Median loan size was $45,200.
- Average loan size was $164,673.
- Approximately 56% of approved loans were for amounts totaling $50,000 or less.
With funding for the Paycheck Protection Program still available, we are continuing to accept new applications. We are happy to accept new Paycheck Protection Program applications from any small business, independent contractor, self-employed individual or non-profit that qualifies and has not yet applied for a loan through this program.
As an SBA-preferred lender, National Bank of Arizona is well positioned to help you efficiently navigate the loan application process.
STEP 1:
Please review the following resources before starting your application. Incomplete applications will not be accepted.
STEP 2:
ATTENTION: If you are applying for loans on behalf of more than one business entity, you will need to complete separate applications for each loan requested. You will also need to use a unique login and different email address for each application.
If you have ownership in more than one business, please be prepared to complete Addendum A, which will need to be uploaded as part of the application process.
PLEASE NOTE: New applications that are incomplete and inaccurate, or do not include an accurately calculated and properly documented loan amount, requisite ownership and other eligibility information and an accurate 6-digit NAICS (North American Industry Classification System) code for your business, will not be processed. You will also be required to have a current transactional (e.g., checking) account with us bearing the same legal name under which your business applies for the loan, in order for us to deposit the loan proceeds.
PAYCHECK PROTECTION PROGRAM UPDATE
The SBA has published important information about the Paycheck Protection Program. This information is updated frequently, and we recommend you refer to it periodically. Click here to visit the Treasury website (to which SBA information is posted), including Frequently Asked Questions posted under Program Rules, as well as other resources.
Due to the significant interest in the Paycheck Protection Program, and the large number of applications being received across the country, we cannot guarantee funding will be available to all who apply.
* Subject to SBA approval. Restrictions may apply. Contact a banker for details.
