Small Business Paycheck Protection Program (PPP)

Small Business - Paycheck Protection Program (PPP)

The Paycheck Protection Program provides small businesses with funds to pay up to 24 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

Peoples Bank and Trust is an approved SBA 7(a) lender for the Paycheck Protection Program

Peoples Bank and Trust is only accepting applications from PBT customers and businesses within Central Kansas

PPP Application (pdf fillable)

PPP Forgiveness Application (pdf fillable) Instructions

PPP EZ-Forgiveness Application (pdf fillable) Instructions

  • Are self-employed and have no employees, or
  • Did not reduce their employees' salaries or wages by more than 25 percent and did not reduce their employees' number or hours, or
  • Experienced reductions in business activity due to health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25 percent
Fully Forgiven

Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for 16 months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Must Keep Employees on the Payroll—or Rehire Quickly

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

All Small Businesses Eligible

Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors — are eligible. Businesses with more than 500 employees are eligible in certain industries.

When to Apply

Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

How to Apply

Step 1 - Fill out PPP Application (pdf fillable)

Also include: 
2019 W2's for all employees
2019 W3 payroll summary report
940 report
YTD Payroll report from payroll software itemizing all employees
Exclude excess over $100,000 for employees who are paid over $100,000.
Also provide:
12 month average Monthly Rent Expense
12 month average monthly mortgage interest expense
12 month average monthly utility expense

Step 2 - Return completed application and supporting documentation to Peoples Bank and Trust

  • Call or Email your local loan officer
  • Drop off the application at nearest PBT location in Central Kansas

For more information or questions click the link below or call your local Peoples Bank location.

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury.