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People’s Bank will be accepting new PPP loan applications through May 14th, 2021 or until PPP program funds are exhausted at the federal level, whichever is sooner.

NOTICE:  New Applicants who are Schedule C tax filers can now apply with the new SBA loan amount calculation.  

The Small Business Administration Paycheck Protection Program First  Draw Loan program and Second Draw Loan program is now available. To start your application process, please use the following instructions: 

If you are a New PPP Borrower:

New People's Bank Borrower applicants Apply Here 

If you are an Existing People's Bank Borrower click below to request a customized application link. Within the email, you will need to provide your business and contact name:

Existing People's Bank borrower click here 

Additional Information:

First Draw PPP Loan

Second Draw PPP Loan  
Accordion 1
EMAIL 2/9/2021:  Warning - Be on Alert for Scam PPP Emails

Dear PPP Borrower,

PPP borrowers are being targeted by scammers who are sending emails requesting sensitive information that would contain social security numbers, business tax identification numbers and other personal identification documents.

The email below is a message that an existing PPP borrower received yesterday.

Actual Phishing Email Received by PPP Client

Reply-To: XXX Young

I am currently working on your PPP application and need some additional documents submitted ASAP. Funding is extremely limited so getting this to me tonight will allow me to process your application. 

I need your 1120 or 1120S 1040 1065 or whichever one you filed 2019 or 2020.

I need a front and back picture of your valid government ID.

If you have ANY employees on W-2 or W-3 I also need the below additional documents. 

ONE of the following Payroll Docs for 2019 or 2020 (matching the BTR time period):

  1. W2's for all employees + W-3
  2. 944
  3. 4 quarters of 941's
  4. Payroll processing reports from a 3rd party 

XXX Young

People’s Bank keeps in constant contact with you as an existing and new PPP borrower.  Be aware, all emails from our People’s Bank lending team will contain the secure domain name of “”  In addition, when we require additional information for either your new PPP loan application or PPP forgiveness application, we will include a secure link to sign back into our online portal to upload information in a secure environment.

Please be alert and be aware.

Thank you,

People’s Bank Lending Team,

Accordion 2
Additional Communications: Regarding the First and Second Draw PPP Loans

SBA Announces PPP Re-Opening Timeline

On Friday evening the Small Business Administration (SBA) announced the Paycheck Protection Program (PPP) re-opening. The initial re-opening is available to four specialized types of financial organizations.  The loan program will be made available to all other lenders, such as People’s Bank, “shortly after” Thursday, January 14th (date yet to be determined).

SBA will have two PPP loan programs available to small businesses.  The 1st Draw PPP loan program will be available to eligible businesses who have not previously received a PPP loan.  The 2nd Draw PPP loan program will be available to eligible businesses who have received a PPP loan and have utilized all loan proceeds. 

Our People’s Bank team is working swiftly to update systems to launch our user-friendly, secure, online application portal.  As soon as our online portal is available, we will let you know.

PLEASE NOTE: Our application process has changed.  To apply for a new PPP Loan, your application must be submitted to People’s Bank through this secure online process

2nd Round PPP Loans Expected

The new COVID-Relief Stimulus bill was passed at both the House and the Senate on December 21, 2020 and signed into law on December 27th by President Trump.  This law includes a new round of PPP funding. 

This second round of PPP loans will be available to help both first time borrowers and second time PPP borrowers whose businesses have been hard-hit and meet certain criteria.

We will not begin accepting new PPP loan applications until SBA releases their timeline, updated rules, new application forms and our online application system meets SBA specifications.

All new PPP loan requests will be submitted via our secure online PPP loan application portal. 

More detail to come as soon as it is received.  Check back here for ongoing updates. If you have any questions, please email

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EMAIL 1/5/2021: Common Questions Answered
Dear PPP Borrower,

The new COVID-Relief Stimulus bill was signed into law on December 27th. The law includes several changes to the PPP loan program and allows for additional funding for eligible small businesses. Small Business Administration (SBA) is currently working on the amended program timeline, regulations, and new forms. We anticipate these updates end of month.

Below are answers to our most commonly asked questions:

Q: How do I submit my forgiveness application if my PPP loan is under $150,000?

A: We will send you an email. The new law allows PPP loans of $150,000 or less to be forgiven with a simple one-page attestation. Once SBA releases the new form and our system is brought up to SBA specifications, People’s Bank will send you a secure email link inviting you to complete your one-page forgiveness application through our secure online portal.

Q: Can I submit my forgiveness application via email or in person?

A: Online only, via our secure portal. A secure email link will be sent to you by People’s Bank.

Q: Will People’s Bank be participating in the new round of PPP loans?

A: Yes

Q: When can I apply for a new PPP loan?

A: Not yet. Applications cannot be accepted until SBA releases their new application form and our online application system is updated to meet SBA specifications. We anticipate both being accomplished by January month-end.

Q: How do I apply for a new PPP loan?

A: New PPP loan applications will be accepted thru our secure online application portal.

Keep watching our website for up-to-date information. If you have any additional questions, please email

People’s Bank Lending Team
Accordion 4
We Got our PPP Funds…What Now?

We at People’s Bank are pleased to have funded your SBA Paycheck Protection Loan. Now the question is, how should your organization be utilizing these loan proceeds? While SBA has not released their final guidance, we recommend the following:

  1. Create a plan to properly utilize the loan proceeds for eligible expenses.  Eligible expenses include the following items:
    1. Payroll costs including cash compensation, health benefits, and retirement benefits, etc.
    2. Interest on mortgage on property owned before February 15, 2020.
    3. Rent for a lease in force before February 15, 2020.
    4. Certain utility costs for which service began before February 15, 2020.
  2. Be mindful that the eight-week period for determining what portion of the PPP loan may be forgiven, the Covered Period, starts on the date the loan was disbursed. This may require you to run an early payroll at the end of the 8 weeks to get your full payroll costs in.
  3. Deploy the plan you crafted related to the payment of eligible expenses during this Covered Period.
  4. Retain all documentation on the eligible costs incurred during the Covered Period. 
Other items to note regarding the PPP loan and the forgiveness of the loan:
  • Sound business practices should outweigh maximizing the amount of the PPP loan forgiven.  Prudent business planning should be used when evaluating the number of FTE’s that will be returning to work and when and what other eligible expenses will be paid during the covered period.
  • No more than 25% of the amount of the PPP loan forgiven can be for non-payroll purposes (rent, interest, and utilities).
  • Gross annualized wages in excess of $100,000 per employee will not be forgiven.  Therefore, the maximum (8 weeks) amount of wages forgiven for any one employee is $15,385 ($100,000 x 8/52).
  • Payments for group health benefits and employer contributions to retirement plans are not subject to the $100,000 cap.
  • A reduction in the number of Full Time Equivalent (FTE) employees will reduce the amount of the PPP loan that is eligible for forgiveness.
  • Employees who have had their salaries substantially reduced during the eight-week covered period (a reduction in excess of 25% compared to the most recent quarter before the covered period) will reduce the amount of the loan that may be forgiven (pending final SBA guidance).
  • The forgiveness reductions related to reduced FTE’s or substantially reduced salaries may be disregarded if you return to full employment by June 30th (pending final SBA guidance). 
Additional Resource Documents:

Please continue to watch for additional information and updates on this page. 
Accordion 5
EMAIL 8/10/2020: Paycheck Protection Program Update

Dear PPP Customer,

The extension of the PPP loan program formally ‘sunsetted’ as of end of day August 8th which means the SBA is no longer authorizing new PPP loans. And so, at this time we are no longer accepting new PPP loan applications.

Congress is negotiating a new round of coronavirus relief. Included in this package is a proposed extension of the PPP loan program. However, at this time we do not know that to be fact, nor do we know if it were to be approved what it will look like, nor the timing.

As to forgiveness…. we continue to anticipate the approval of a much-simplified process for requesting forgiveness for recipients of loans less than $150,000. There is some talk that this threshold might even be a bit higher. So, we ask that you continue to refrain from applying for forgiveness. However, for recipients of larger loans of $350,000 or greater, we can begin accepting applications beginning Monday, August 17th.

Reminder, all archived emails and up to date information can be found on our website.

Your People’s Bank Team

Accordion 6
EMAIL 7/29/2020: Senate Introduces the Continuing Small Business Recovery and PPP Act 

Dear PPP Customer,

On Monday, Senators Marco Rubio and Susan Collins introduced the “Continuing Small Business Recovery and Paycheck Protection Act,” a federal relief package that builds on the CARES Act. A one-page rundown of the proposal can be found here (click here to review document).  The act introduces additional avenues of help for small business and proposes changes to the PPP loan program. If approved, the vast majority of PPP recipients could benefit.

Recently, SBA lenders received long awaited guidance on the PPP Forgiveness process.  The SBA’s online “PPP Forgiveness Platform” is tentatively scheduled to be available to lenders in mid-August.  Once this platform is up and running and lenders are authorized, they can begin submitting borrower Forgiveness Applications electronically. Stay tuned for more information on this in the coming days.

Reminder, all archived emails and up to date information can be found on our website.

Your People’s Bank Team

Accordion 7
EMAIL 7/23/2020: PPP Forgiveness Remains in Holding Pattern

Dear PPP Customer,

Similar to when an airline pilot maintains a holding pattern while awaiting permission to land… so too are we in a PPP holding pattern! What factors are keeping us from accepting your Loan Forgiveness applications? 

  1. Anticipated legislation that could significantly change the current forgiveness process.
  2. Expected revisions to Forgiveness application forms.
  3. Delayed roll out of SBA software platform needed for lenders to submit for forgiveness on your behalf. SBA Administrator Jovita Carranza recently announced the SBA hopes to have a forgiveness portal – through which banks can apply for forgiveness on behalf of borrowers – up and running by August. 

Please know, your People’s Bank team remains vigilant in all things PPP.  We actively advocate for all of our small business community.  We educate ourselves daily and keep abreast of current SBA events.  Don’t forget to visit our website for archived emails and up to date information. 

 Also, consider visiting the Oregon Small Business Development Center (SBDC) Network online.  They have several relevant on demand and upcoming small business educational webinars available for free or at a nominal fee.  Coming up in August, “Bouncing Back and Making Your Business Pandemic Proof.”  Click here for a list of events: SBDC Events and Workshops.

Your People’s Bank Team

Accordion 8
EMAIL 7/15/2020: Proposed PPP Forgiveness Legislation Garners Support and Gains Traction

Dear PPP Customer,

On June 30th, a bipartisan bill “The PPP Small Business Forgiveness Act” was introduced to the Senate. This proposed legislation would drastically streamline the current and complex forgiveness process for approximately 86% of all loans made through the SBA PPP program.  It would allow loans of $150,000 or less to be forgiven simply by borrower completing and submitting to lender a one-page forgiveness attestation.  

This legislation, if passed, could reduce the time and paperwork burden for you and so many more in our business community. People’s Bank is advocating on your behalf, but please consider taking immediate action by contacting your lawmakers today!  Follow this link to assure your voice is heard. (

Two quick reminders; 1) we are not yet accepting PPP forgiveness applications in anticipation of further changes, and 2) People’s Bank is still accepting new PPP applications through July 31st.  If you are aware of any business in your sphere of influence needing assistance refer them to our website.

Your People’s Bank Team

Accordion 9
EMAIL 7/9/2020: PPP Extended which Diverts SBA Focus on Forgiveness

Dear PPP Customer,

The CARES act Paycheck Protection Program was extended to August 8th, 2020.  There remains over $131 billion available to help impacted small businesses. 

The US Treasury Department and Small Business Administration continue to focus on getting loans to every business needing assistance.  This focus combined with potentially significant legislative changes to the program regarding forgiveness still has us in a holding pattern.  

People’s Bank also has concern for our local businesses who have not yet applied.  We have reopened our application portal and are accepting new PPP applications through July 31st.  If you know of any small business struggling due to the COVID-19 events and who would benefit from a PPP loan, please refer them to our website.

Your People’s Bank Team

Accordion 10
EMAIL 7/2/2020: Bank Awaits SBA Guidance for Lenders on PPP Loan Forgiveness

We had hoped by now to have more information to share with you about the SBA PPP forgiveness application process. Unfortunately, no new guidance has been released informing Lenders on “how” to submit for forgiveness on your behalf. So,….

….we must continue to ask you to not yet submit your application for forgiveness.

While we recognize and fully empathize with your desire to get your loan forgiveness ‘behind you,’ we want to remind you of a few points that should significantly reduce any concerns you may have: 

  • If you spent your PPP loan proceeds on qualified purposes, with at least 60% having been for payroll, and you can properly document it, your loan will be forgiven (if less than 60% was spent on payroll, then a portion of your loan will be forgiven); 
  • Recent guidance indicates the loan payment deferral period was increased from 6 months to 16 months; and 
  • There is no ‘early deadline’ for forgiveness. Forgiveness can be requested up to the maturity date of your note. So, you have plenty of time.

As promised, we will continue to send updates as information becomes available.

Your People's Bank Team
Accordion 11
EMAIL 6/17/2020: PPP Forgiveness Becoming More Streamlined

SBA Streamlines PPP Forgiveness Application for Many PPP Borrowers

Today, the Small Business Administration released a three-page “EZ” Paycheck Protection Program loan forgiveness application requiring less documentation and fewer calculations than previously required. Form 3508EZ (click here) and the EZ instructions (click here) apply to borrowers who meet ANY ONE of these three criteria:

  • Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees.
  • Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excepting laid-off employees who refused an offer to return).
  • Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

In addition, they made a slight revision to the standard Forgiveness Application form (click here) and provided separate instructions (click here).

We recognize the 8-week window for early recipients approaches, but we continue to hold out hope SBA will further streamline the process so we encourage that you continue to hold off on applying for forgiveness. We believe if the further streamlining is to occur, we’ll know within the coming week.

We understand all of you want to get past this hurdle of loan forgiveness as soon as possible. The waiting is both difficult and frustrating. However, asking you to hold off is truly in your best interest. Further program enhancements will make the forgiveness process much easier for all!

Your People's Bank Team

Accordion 12
EMAIL 6/11/2020: PPP Flexibility Act -Revised Guidance

Dear PPP Loan Customer,

Last night the Small Business Administration and Treasury Department released revised guidance to reflect those changes that came into effect as a result of the Paycheck Protection Program Flexibility Act. PPP IFR Revisions to First Interim Final Rule.

This updated guidance codifies several changes to the PPP program. Specifically, it:

  •  Reminds us the last day we can obtain an SBA loan number for a PPP loan is June 30, 2020.
  • Confirms that borrowers using less than 60% of their PPP loan amount for payroll costs during the forgiveness covered period will still be eligible for partial loan forgiveness.
  • Provides a five-year maturity for loans made on or after June 5, 2020 and provides an option for loans made prior to that date to extend maturity from two years to five years at the mutual agreement of the borrower and lender.
  • Extends the loan forgiveness period from eight weeks to 24 weeks.

SBA signaled that it will issue additional guidance on loan forgiveness and loan review procedures. They did not indicate when that would be coming but we commit to letting you know just as soon as we get information. 

These are very positive changes. Having more flexible program requirements will make it easier for you to maximize your loan forgiveness. Please continue to watch for additional email communication as we learn more. 

Your People’s Bank Team

Accordion 13
EMAIL 6/5/2020: PPP Flexibility Act -Signed by President Trump

Dear PPP Loan Customer,

Today, President Trump signed the “Paycheck Protection Program Flexibility Act” into law. 

What does this mean for you?

People’s Bank is one step closer to being able to introduce our Forgiveness Application process.  More importantly, the passage of this Act means more flexibility for you, our borrowers.  The ease in requirements are designed to make it simpler for you to reach full or almost full forgiveness.

  • The minimum amount a business must devote to maintaining payroll is reduced from 75% to 60%;
  • The 8-week covered payroll period is now extended up to 24 weeks;
  • Borrowers will have until December 31, 2020 to restore workforce levels and wages to pre-pandemic levels; 
  • The repayment of any unforgiven amount can now be extended up to a term of 4 ½ years if mutually agreed upon by borrower and lender; and
  • Payroll tax deferment

Now that the bill has been signed into law, SBA and the US Treasury will publish the new Forgiveness Application form and guidance. In the meantime, our People’s Bank Team will be developing tools to assist in the completion of the Forgiveness Application.    

Please keep watching our website for updates.

Your People’s Bank Team
Accordion 14
Small Business Paycheck Protection Program Overview:
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. 
Loan Forgiveness Opportunities
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 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six 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.

Eligible Small Businesses
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
If your business has been impacted by COVID-19 and would like to start collecting the appropriate documents, use the application link here. You can then contact your People's Bank representative and they will give you additional information and the next steps as the SBA Paycheck Protection Program loan.  
Accordion 15
FAQ Videos
We've created "Ken CARES videos" to help answer questions during the PPP loan application process and also help with questions after the funding of your PPP loan.  

*Videos will open in a YouTube application.
Read more on our accessibility statement