Paycheck Protection Program

Fremont Bank is committed to helping small businesses who have been severely impacted by COVID-19. We understand that in this unprecedented and difficult time, many of you need financing, and we are here to help.

The Paycheck Protection Program, part of the new CARES stimulus package, is a federal loan program aimed at helping small businesses who have been impacted by COVID-19. Fremont Bank is a SBA Preferred Lender, and we are participating in the program. If you are interested in applying through Fremont Bank, please submit your basic information below. We will process loans for as many local businesses as we are able to, and will contact you when we are able to submit your application.

Important Note: The SBA will not accept any new applications after June 30, 2020. To ensure we have appropriate time to process requests, we will continue to accept new requests for PPP loans until Friday, June 19, 2020. If you are interested in securing PPP funds, please be sure to complete this form before June 19.

Are you a Fremont Bank client?:
Please provide us with the TIN of the business entity for which you are seeking financing – this will allow us to more efficiently process your request.
Know Your Options

In addition to the Paycheck Protection Program loan, the SBA is also offering an Economic Injury Disaster Loan (EIDL) to small business owners. These loans are offered directly from the SBA, and you can apply for this low-interest, federal disaster loan here.

The following chart illustrates the basics of each program as we understand it today. We will update this chart as we receive more guidance from the SBA.

 
Payroll Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
How You Apply
Directly through a SBA Preferred Lender. Fremont Bank is a top SBA Lender and will be accepting applications.
EIDL loans are provided directly from the SBA and you can apply here.
Uses of Funds
Payroll, salaries, mortgage interest, rent and utilities, interest on qualifying debt
Payroll, fixed debts, accounts payable, other expenses that can’t be paid because of the disasters impact
Loan Amount
2.5x your average monthly payroll
Up to $2,000,000
Rate
1.00% APR
3.75% APR
Loan Forgiveness
Up to 100% of principal balance under certain circumstances
Not eligible for forgiveness

Additional restrictions may apply and subject to change without notice. All credit applications subject to credit approval and SBA eligibility and lending guidelines. Terms and conditions are subject to change.