PPP 2021 for New Clients

Now Accepting PPP Applications for New Clients of the Bank

Accepting PPP Loan Applications from New Clients of Affinity Bank and Newton Federal

The SBA is officially opening the second draw PPP program  Wednesday, January 13th.  We began accepting applications from existing clients of the bank on Monday, January 11th.

If you would like to apply for a second draw loan, please send your information to ppp2021@myaffinitybank.com.  We cannot emphasize the importance of only sending a single email.



FIRST STEP – SELECT APPLICATION 

    • Second Draw for Filing Under Schedule C, using Gross Income (Use this form only if the applicant files an IRS Form 1040, Schedule C, and uses Gross Income to calculate PPP loan amount.) SBA Form 2483-SD-C (3/21) >>
SECOND STEP – PROVIDE SUPPORTING INFORMATION

    1. Borrower Acknowledgement Form >>
    2. Competed PPP Funding Document – Request of Deposit of SBA Paycheck Protection Program Loan Proceeds Form >>
    3. Financials validating your “average monthly payroll” figure. This will expedite your application process.  You can use either 2019 financials or 2020 financials.  Remember to “cap” each employee at $100,000.
    4. Financials proving a 25% reduction in total revenue.  This may be omitted if less than $150,000, but you will have to provide this information to be eligible for any forgiveness.
    5. Beneficial Ownership Certification PDF >>
    6. 2019 Business Tax Return
    7. Corporate Documents
    8. Valid Driver’s License(s) for Owner(s)

Once you have everything together, please send ONE email with all required documentation to ppp2021@myaffinitybank.com.  

We cannot guarantee that your application will be processed if you send multiple emails.

We also ask for your patience returning calls and emails. There will be a delay as we work diligently to process applications.

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As of &zwnj, the interest rate(s) and annual percentage yield(s) are accurate. Interest rates may change as often as daily without prior notice. Fees may reduce account earnings. Rates are valid for accounts opened online and require a valid email address.The interest rate on this account is based on the Average Daily Steps from the prior month. Rate updates for average daily steps from the prior month are reviewed no later than the second week of the following month. The initial APY will be current top tier until the rate adjustment date following first full month that the account has been opened. Rates are valid for accounts opened online and require a valid email address.