Paycheck Protection Program

We are the Bank that Amarillo Relies On!

PPP Stimulus Loan Application *Please submit all supporting payroll documents completed and signed to ANBPPP@anb.com

Business Account Application **If you do not have an ANB Business Account, please complete and email this form to stimulusaccounts@anb.com

*Pending SBA Approval, some additional documents may be required. (It is the Government, after all)

Updated:  April 1, 2020 5:01 p.m.

What businesses qualify for a loan under the Paycheck Protection Program?

  • Businesses with up to 500 employees.
  • Hospitality businesses with multiple locations that have no less than 500 employees per location.
  • Nonprofit organizations.

Do independent contractors qualify under this program?

  • Qualifying independent contractors and sole proprietors are eligible to receive these loans.

How much of a loan can you get?

  • The total amount of payroll costs you had in 2019, divided by 12, multiplied by 2.5.

What documents do we need?

  • Payroll Documents for the last 12 months.
  • List of Employees as of 02/15/2020

SBA Pic

Who is considered to be an employee?

  • Full-time, part-time, or employees that are employed on another basis are all considered the same.

What can the funds be used for? (Only during the time period (02/15/2020- 06/30/2020)

  • In order to get the loan forgiven, you can only use the funds on the expenses listed below.
    • Payroll Costs.
    • Costs related to healthcare benefits.
    • Rent/Lease Payments.
    • Utilities.
    • Interest on pre-existing debt.

What happens if I don’t use the entire loan I am approved for?

  • You will not be responsible for the unused portion of the loan.

How is the loan going to be forgiven?

  • The purpose of the stimulus bill is to keep employees paid through 2/15/2020 - 6/30/2020, and for the loan to be forgiven, the funds must be used as such. Borrowers are eligible for loan forgiveness 8 weeks after the date the loan is booked. During the 8 weeks, we will need proof of what the funds are being applied towards. This would include:
    • Payroll Invoices
    • Utility Bills
    • Rent Receipts
    • Interest Expense Receipts

What happens if SBA doesn’t cover 100% of the loan?

  • If after the borrower receives loan forgiveness there is still an outstanding amount to be paid, the
    remaining amount will be paid over 2 years with a .5% Interest rate. Again, still subject to change
    with guidelines.

How do I Apply?

What if I am not an ANB Customer?

After filling out our online loan application and new business account application, E-mail StimulusAccounts@anb.com where you will be given further instructions on opening an account with us.

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