Highly recommended for PPP loan processing! Send us the documentation we request. America First FCU – Apply at this link by clicking Apply Now. BBVA USA will not pay any agent or other person a fee or other compensation to assist an eligible applicant prepare an application. An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Note: On January 19, the PPP was opened to all lenders. ACAP walked me through everything required, clearly explained any issues, and worked quickly to address my concerns. “Our experience and understanding of the SBA process gives us a bit of an inside track, navigating through government processes and funding loans quickly.”. Retooling your small business in the time of coronavirus, How mobile and online banking can benefit your business, Please remember that BBVA will never call, email, or text you and ask for your PIN or private financial information. The Paycheck Protection Program (PPP) is closed again. To continue to use our online services, you must upgrade to a current version of Google ChromeTM, Mozilla Firefox® or Microsoft Internet Explorer®. Business customers without Online Banking, click here to first find the nearest branch to set up Online Banking. BBVA USA has been recognized as one of the leading small business lenders by the SBA and ranked 8th nationally in terms of dollar volume of SBA loans originated, based on financial data for fiscal year 2018. © 2020 BBVA USA Bancshares, Inc. BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group. In order to minimize disruption to our customers, we schedule maintenance at times during which these systems are least likely to be used. The SBA in July disclosed the names, addresses, ZIP codes, demographic data and industry codes of borrowers on PPP loans of $150,000 or more. All eligible borrowers must have been in operation on or before February 15, 2020. See some customer testimonials on how BBVA was able to help them when the first round of the PPP program was launched. BBVA USA has announced it has funded approximately USD 3.3 billion in Paycheck Protection Program (PPP) small business loans in less than 60 days, processing more than 22,000 applications and impacting approximately 360,000 jobs through its efforts in the Small Business Administration's (SBA) Paycheck Protection Program (PPP), the company said. The Paycheck Protection Program, which restarted this week with $284 billion in pandemic-relief loans for U.S. small businesses, will open to small banks on Friday and all lenders next Tuesday. (The applicant, if married, may apply for a separate account.) © 2021 BBVA USA Bancshares, Inc. BBVA USA is a Member FDIC and an Equal Housing Lender. The new maximum PPP loan amount is $2 million. Businesses Can Get a Second Loan . BBVA Express Personal Loans. Paycheck Protection Program Second Draw Loan Borrower Application Form However, certain restaurants, hotels, and other similar businesses may be eligible for a second draw PPP loan amount up to 3.5 times their average total monthly payroll costs for 2019 subject to the $2 million maximum PPP loan amount. This is the third time since its inception. The bank will begin accepting applications beginning April 3, 2020, and BBVA small business customers should expect to receive an email today containing details on the application process. Borrowers of loans in excess of $150,000 will have to document their reduction in gross receipts upon applying for round two of PPP. Sunbelt-based financial institution Banco Bilbao Vizcaya Argentaria (BBVA) USA has announced its plans to start processing customer applications for the Paycheck Protection Program (PPP). Getty Images. We are no longer accepting applications for Paycheck Protection Program loans. Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone ( ) - Primary Contact E-mail Address . BBVA's online banking and mobile banking make it easy, secure, and safe to manage your money from home during the coronavirus crisis. Commercial and Wealth business customers should work with their relationship managers directly. BBVA USA, a subsidiary of Houston-based BBVA USA Bancshares Inc., had funded approximately $3.3 billion in small business loans through the second round of the PPP, the bank announced May 26. 3. Impacted small business customers can also reach out to their bankers to discuss options including payment deferrals and extensions, as well as potential fee waivers. The forms are SBA Form 3509, Paycheck Protection Program Loan Necessity Questionnaire (For-Profit Borrowers), and SBA Form 3510, Paycheck Protection Program Loan Necessity Questionnaire (Non-Profit Borrowers). BBVA USA: $350K–$1M loan to THE CENTER FOR COLON AND DIGESTIVE DISEASE, PC ... 2020 and includes all approved, active Paycheck Protection Program (PPP) loans worth $150,000 or more. Only the most creditworthy … BBVA Compass can only make loans in the states listed. For many, if not most, business owners, the first round of PPP was not nearly enough to save their business or … OMB Control Number 3245-0407 Expiration Date: 1. Loan amounts are calculated using a company’s payroll expenses; businesses can use either their 2019 or 2020 payroll to compute how much they can ask for. Calculations are based on a 3-year BBVA Express Personal Loan with the lowest available fixed rate of 6.24% APR, which includes a 1.00% auto-debit interest rate discount. BBVA USA, Member FDIC. Eligible small business owners and self-employed individuals can again apply for a first-time or second draw PPP loan—through March 31, 2021. In addition to BBVA requirements, all SBA loans are subject to program eligibility and approval. The SBA, which this week began approving new PPP loans for minority- and woman-owned businesses, plans to open the process to all lenders starting Tuesday. The simplest method … 2 /3. BBVA USA does not pay any agent or any other third party fees for preparation of a PPP loan application or a PPP loan forgiveness application. PPP Loan Forgiveness Calculation Form. Apply for a personal loan online, with quick access to funds upon approval. The Paycheck Protection Program (PPP) provides loans to help businesses keep their … Due to scheduled system maintenance, some services may be temporarily unavailable in Online and Mobile Banking this Sunday, January 24 from 12:00 a.m. until 2:30 a.m. CT. $350K–$1M loan to ROOM 214, INC. ROOM 214, INC. BOULDER, CO Corporation: Professional Organizations ... BBVA USA: $150K–$350K loan to OBAR WRECKER SERVICE LLC BBVA USA has extended the due date of your first payment for your Paycheck Protection Program (PPP) loan until May 2021. Your new first payment due date will be on the same calendar day in May 2021 as … Dobers: “During this challenging time, we want to do everything we can to help small business customers…”, “We are proud to be among the first banks prepared to process these applications, because we recognize how important this funding will be to small business customers,” said BBVA USA Executive Director of Business Banking Elizabeth Dobers. The Paycheck Protection Program allows businesses with fewer than 500 employees to borrow money from government guarantee lenders to fund up to 2.5 times their monthly payroll and other employee expenses, including health insurance and retirement coverage. Start your business in 10 steps. Pictured is BBVA’s marquee on the building it occupies in … Our competitive low rates make borrowing affordable and easy. IRS Reversal: Expenses Paid With PPP Loan Funds Are Now Tax-Deductible By Melanie Waddell | January 08, 2021 at 04:17 PM “The message is that’s what Congress intended all … While BBVA USA is seeing far fewer PPP applications coming in than when the program was first launched on April 3, the bank has a heap of forgivable loan applications already queued up. It's a monsoon. Borrowers who failed to satisfy this requirement had their loan forgiveness amount reduced. Loans for second-time borrowers are capped at $2 million. BBVA USA today announced it will be one of the first banks in the U.S. to begin processing customer applications for the Paycheck Protection Program, a key small business relief component of … For security tips and helpful links, please visit our Security Center. The new law also allows some businesses to apply for a second loan. You’ll need a business account first. Getting your PPP loan application submitted is stressful, and hopefully the larger banks, which have millions of small-business customers waiting, will have their applications up within days. SBA PPP Loan Number: For millions of small businesses still struggling to make ends meet, they may now apply for a new, potentially forgivable federal loan. You must have a BBVA Checking Account in good standing to apply. The $900 billion Covid-19 relief package passed on Dec. 27, 2020, reignited the PPP with an additional $285 billion for small businesses impacted by the pandemic. Originally, PPP borrowers had to use at least 75% of loan proceeds for payroll costs. For security tips and helpful links, please visit our. At BBVA, we value your business and apologize for any inconvenience that you may experience during this maintenance period. Yes No By marking "Yes", you understand that … Here's What You Need to Know If your business needs a boost, be sure to apply for your loan as soon as you can. BBVA USA today announced it will be one of the first banks in the U.S. to begin processing customer applications for the Paycheck Protection Program, a key small business relief component of the … The portal will reopen once BBVA Compass processes the applications it … BBVA USA received nearly 24000 PPP applications and was approved to provide approximately $2.2 billion in loans, most of which have already been… 9. Please consult your legal or tax advisors for questions related to your business and the SBA Paycheck Protection Program (PPP). This is the third time since its inception. However, if you have already obtained a Paycheck Protection Program (PPP) Loan with BBVA, we are in the process of … Thank you to the ACAP team for following up on every request. 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