Assistance for Small Businesses
Update 05/04/21 – SBA: PPP Funds Exhausted for All But CDFIs, MDIs
The Small Business Administration has just informed banks that Paycheck Protection Program funding has been exhausted and that the PPP application portal will today stop accepting applications for loans from most lenders.
Paycheck Protection Program loan forgiveness
In you received your Paycheck Protection Program (PPP) loan from First Foundation Bank in 2021, we will notify you via email when the Forgiveness Portal is open.
If you received your Paycheck Protection Program (PPP) loan from First Foundation Bank in 2020, here is what you need to know.
- You should have received an email from us with an invitation to our PPP Forgiveness Online Portal.
- If you did not receive an email, please contact your banker or use the email below.
- Once you start your online application, you’ll be able to save and come back to it as you prepare it.
- You will want to wait to submit your PPP loan forgiveness application until you have collected and uploaded all your required documents.
First Foundation Bank uses an automated system for submitting loan forgiveness requests to make the process as efficient as possible. It will be important to utilize the online process as it will provide the proper steps to collect the necessary information and related documentation. It will also be updated live as changes are made by the SBA to ensure that you always have the most recent information and forms.
The updates to the Act make more expenses considered allowable if you used your Paycheck Protection Program (PPP) funds to pay for them. Expenses such as software, accounting, and investments in personal protective equipment may be allowable under certain conditions. More information will be made available by the SBA.
We strongly encourage the use of the online process when it becomes available to have your request processed as the use of other applications may delay your forgiveness request.
Questions? Email us at email@example.com.
California, Nevada, and Hawaii businesses seeking assistance
Please be advised that assistance for businesses may be available through the SBA's Economic Injury Disaster Loan Program. This is a self-directed program through the SBA.
Please visit https://www.sba.gov/funding-programs/disaster-assistance to inquire about available options and the application process.
Main Street Lending Program
Unlike the Small Business Administration's Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP), the Main Street Lending program is a federal relief program aimed at larger companies. At the current time, First Foundation Bank is focused on assisting existing borrowers with loan forgiveness under the original PPP lending program, and is not participating in the Main Street Lending Program.