We are pleased to announce that we are now accepting Payroll Protection Program 2 loan applications through our new partnership with ACAP/The Loan Source (TLS). You may now access the ACAP/TLS secure portal to fill out and submit your PPP 2 loan application.
February 22 Notice: The Biden-Harris Administration announced amendments to the current round of PPP to increase equal access to the relief program. While we encourage you to read the full White House briefing, key reforms are outlined below.
Similar to previous SBA-driven amendments, the platform will be updated to reflect these revisions. To abide with the new guidelines, we intend to adjust operations as follows:
This new announcement allows us to help more small businesses, particularly those owned by women and minorities and are excited to increase our support for a larger segment of borrowers.
About ACAP/The Loan Source
ACAP/TLC is one of the nation’s leading and most reputable PPP loan experts. We have fully vetted this partner and believe they will provide our customers with not only a professional experience, but an accelerated one based on their vast knowledge and experience in processing PPP loan applications. We understand how important the timeliness of receiving your PPP funds is; partnering with ACAP/TLC helps us ensure our valued customers will be served as quickly as possible if you are eligible to receive funds.
As we approach the later stages of this round, we are encountering a decreased frequency of loan approvals, especially among first draw loans. As a result, we will cease accepting first draw loan applications from non-vetted borrowers as of midnight on Saturday, February 27th. By providing first draw access to only vetted borrowers, we aim to eliminate invalid applications that slow the review process for eligible businesses who are in critical need of funding.
Contact The State Bank for Questions and Assistance
If you have any questions before you begin your PPP 2 Application via the ACAP/TLC secure portal, we are here to help:
The PPP allows a portion, or all, of your loan and accrued interest to be forgiven if the proceeds were used for eligible payroll and non-payroll costs. Follow the link for more information.
The State Bank is proud to be a Preferred Small Business Administration (SBA) lender. Our small business experts can provide customized lending solutions to fit your business needs.