In observance of the Martin Luther King Jr. Holiday, the bank will be closed on Monday, January 18th. We will be open for regular business hours on Tuesday, January 19th. As a reminder, our Colorado Springs bank lobby will be closed to the public. Our drive through teller lane is open, as is our online/mobile banking platform. Our Denver lobby will be open to the public, but locked. Visitors will be allowed into the branch one at a time if access to the banking team is needed. Please call (719) 228-1100 with any questions.
On Wednesday, January 13, 2021, the SBA (in consultation with the U.S. Treasury Department) announced that it will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets tomorrow, Friday, January 15th, 2021 at 7 a.m. Fortunately, we are eligible for this early opportunity to begin submitting applications to the SBA.
As a reminder, this second round of funding has been allocated $284 billion, which is less than the initial PPP funding level and, as a result, may get claimed quickly. For that reason, we’ve put together the below information to help you prepare your application for quick submission. We recommend you work with your CPA or trusted advisor should you have any questions regarding the application requirements.
CB&T is wrapping up the implementation of a software platform that will automate the PPP application process for clients who wish to apply for new PPP loans. This will streamline and automate that process for new applications. If you have already submitted for your Second Draw PPP loan there is nothing you need to do at this time, we will process your application through the traditional process.
We do anticipate closing many of the Second Draw PPP loans through the automated system and accordingly you will be seeing an invitation to register in that portal in the near future. This portal will manage the eventual forgiveness of the Second Draw PPP loans as well.
Note: If the Application is not completed in its entirety there is a high likelihood it will be returned.
CB&T is wrapping up the implementation of a software platform that will automate the Forgiveness Process for our clients that have not yet applied for or received Forgiveness. Over the upcoming days you will be receiving an invite from Central Bank & Trust to register in a portal that will guide you through the Forgiveness Process.
This will automate and streamline a great deal of that process. We will be starting with clients that have PPP loans of more than $150,000. SBA will be releasing new requirements for loans of $150,000 or less in the next couple weeks and once those are finalized, we will be inviting clients with loans of $150,000 or less to register in the portal and complete the Forgiveness Process.
Should you have any questions, please don’t hesitate to reach out to your Banker or Relationship Manager.
Tony Leveque
Market President, Colorado Springs
NMLS #843074
Mark Maruszak
Senior Vice President
SBA Lending Business Development Officer
NMLS #1326335
David Harline
Senior Vice President
Commercial Lender
NMLS #1118168
Greg Bianchi
Senior Vice President, SBA Lending Division
Mark Sullivan, MBA
VP Commercial Banking
Vic Calonder
Senior Vice President, SBA Lending
Business Development Officer
Kevin A. Marvin
VP, Commerical Banker
Mary Holm
Market President, Denver
Rick Koontz
Senior Vice President, Commercial Banking
Cory Leppert
Chief Credit Officer
NMLS #619013
Ann Marie Balon
VP Commercial Banking
NMLS #1160198
Scott Page
Chief Executive Officer
Steve Shear
Executive Vice President,
Director of Treasury & Commercial Services
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