Small businesses like yours are essential to the stability and health of our communities. As we work through this difficult time, we’re here to help keep your business strong.

Paycheck Protection Program

What it does

The Paycheck Protection Program (PPP) provides eligible applicants*, including non-profits, sole proprietors, self-employed individuals and independent contracts, with loans to cover costs related to payroll expenses**, group health care benefits, utilities, rent, mortgage interest payments and interest on other debt incurred prior to 02/15/20. It excludes funds for working capital, renovations, equipment and inventory purchases.

U.S. Chamber of Commerce’s Guide

What are the benefits

Your PPP loan comes directly from American Bank, so you’re working with a local bank you know and trust.

How to Apply

We have provided the application below along with additional guidance for the Paycheck Protection Program.

We are accepting applications for our current customers only.

Paycheck Protection Program Application Form

Paycheck Protection Program Information

Self Employed Guidance

Loan Forgiveness Questions & Answers

*Subject to program requirements. Must have 500 or fewer employees. Accommodation and food services businesses may have up to 500 employees per physical location. All loans subject to credit approval. Must apply by 06/30/2020. Typical Small Business Administration requirements of credit not available elsewhere, collateral and personal guarantee requirements not applicable.

**Payroll expenses include salaries, wages, cash or cash equivalent payments, vacation, parental leave, family leave, medical or sick leave, group healthcare benefits, retirement benefits and state or local taxes on employee compensation.

***To be forgiven, funds must be used for a permissible purpose by a qualifying small business. Small business must submit a request for forgiveness to American Bank. Amount eligible for forgiveness will equal the amount spent by the small business during the eight weeks after the origination date of the loan on payroll costs, interest payments on any mortgage incurred prior to 2/15/2020, payment of rent on any lease in force prior to 2/15/2020, and payments on any utility for which service began before 2/15/2020. Forgiveness will be reduced based on the percentage of full-time (or full-time equivalent) employees laid off or having their salary reduced by more than 25% following 02/15/2020 unless employees are rehired and returned to prior salary by 06/30/2020. Certain other limitations and conditions may apply. Forgiveness is provided by the Small Business Administration and not at the discretion of American Bank. You will be obligated to repay any portion of the loan that the Small Business Administration does not forgive.

Paycheck Protection Loan Forgiveness


Loan Forgiveness Application