Paycheck Protection Program
Grand Bank is pleased to be participating in the Paycheck Protection Program. We are providing you access to our portal to complete your application so it can be reviewed and submitted to the SBA portal when available. If you would like to apply, please agree to the below terms and conditions surrounding your PPP application and a link to the PPP online portal will become available.
Terms & Conditions
By completing the below information and clicking “agree”, you are requesting access to the Grand Bank PPP application portal that will allow you to apply to participate in the U.S. Paycheck Protection Program (the “PPP”) and are agreeing to all of the following:
- The rules, regulations, and requirements for participation in the reopened PPP and for the “second draw loans” under the PPP can be found on the Small Business Administration (“SBA”) website at www.sba.gov or on the Department of the Treasury website at. home.treasury.gov. Grand Bank will monitor the issuance of new regulations for the PPP on a real-time basis, but borrowers are ultimately responsible for compliance with all applicable rules, regulations, and requirements of the PPP.
- Please note that Grand Bank would be the sole source of funds for any PPP loans approved by Grand Bank. Therefore, all PPP loan applications submitted to Grand Bank are subject to Grand Bank underwriting standards and procedures. Grand Bank reserves the right to decline to submit any PPP loan application to the SBA or to offer loans in an amount less than the maximum allowed by the SBA.
- By submitting your application to participate in the PPP, you are asking that we process and then submit your application to the SBA. You are solely responsible for the accuracy of the information provided in your PPP application. By submitting your PPP application, you certify that you meet all the eligibility qualifications for the PPP.
- By submission of the application to Grand Bank, you are not assured of being approved for a PPP loan. Your loan application will be subject to a preliminary review by Grand Bank and final approval by the SBA. Grand Bank has an obligation to conduct a limited review of your loan application, which may result in Grand Bank declining your application or reducing the amount requested in your loan application in order to conform to the requirements of the PPP and the SBA. Even if your application is approved by Grand Bank, note that the SBA has final approval of every PPP loan application. There is no assurance that your loan request will be approved by the SBA.
- The SBA has limited funds for disbursement pursuant to the PPP and PPP loans are generally disbursed on a “first-come, first-served” basis. Any errors or omissions in your loan application are your responsibility. Any delays in the submission or approval of your loan request are your responsibility. Grand Bank shall have no liability for any exhaustion of the SBA’s resources under the PPP prior to the approval of your loan application. You agree that Grand Bank has no liability to you in connection with the processing and submission of your PPP loan application except for its gross negligence or willful misconduct.
- By submission of the application to Grand Bank, you attest that you will accurately provide any required certification or documentation pursuant to all applicable statutory requirements, regulations, and guidance related to your PPP loan, including under paragraph (36) and/or paragraph (37) of section 7(a) and under section 7A of the Small Business Act.
- Grand Bank has made no representation, warranty, promise or assurance (a) that you are eligible or able to receive forgiveness for any portion of your PPP loan, (b) that any forgiveness will occur, (c) that any of the expenses you pay with your PPP loan are eligible for forgiveness, (d) as to the documentation required for any forgiveness, or (e) as to the tax consequences associated with the forgiveness of any of your PPP loan.
- You agree to open a deposit account at Grand Bank for which your PPP loan funds will be deposited.
- Your promissory note and other documents supporting your PPP loan are intended to comply in all respects with all laws, rules, and regulations in effect from time to time in regard to the PPP, and all SBA requirements in effect from time to time regarding the PPP, and those documents will be deemed to be modified as necessary to comply with those laws, rules and regulations in all respects, without the need for any further action on the part of either you or Grand Bank.