Texas Security Bank is committed to helping the champions of free enterprise, your small business, navigate the COVID-19 SBA loan relief options. Texas Security Bank is a SBA Preferred Lender with experience to guide you through the process. Below are our ongoing communications to keep you up to date on the latest information as it evolves. Also provided are the two programs the SBA will be offering to assist businesses in this current economic environment.
PPP - Application For Forgiveness
The Paycheck Protection Program provides federally-guaranteed loans up to a maximum amount of $10 million to eligible businesses, which can be partially forgivable, to encourage businesses to retain employees through the COVID-19 crisis by assisting in the payment of certain operational costs. For businesses that have received a PPP loan through Texas Security Bank, the application for loan forgiveness can be submitted at the end of the Borrower’s Covered Period, which can be at point from 8 weeks up to 24 weeks from the original disbursement date.
Post-Approval Loan Forms
Standard Application for Loan Forgiveness 6-17-2020
Standard Application for Loan Forgiveness Instructions 1.0
PPP Loan Forgiveness Application 3508EZ
PPP Loan Forgiveness Application 3508EZ Instructions
PPP Loan Forgiveness Application 3508S (loan amount of $50,000 or less)
PPP Loan Forgiveness Application 3508S Instructions (loan amount of $50,000 or less)
PPP Reduction in Wages Worksheet
Business Speaker Series (Recording) - Payment Protection Forgiveness Segment
TSB PPP Forgiveness Business Speaker Series Slide Deck
TSB PPP Portal
SBA Economic Injury Disaster Loan (EIDL)
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. Business owners will apply for the Economic Injury Disaster Loan directly through the Small Business Administration website. See more detailed information below.
SBA Economic Injury Disaster Loan Information