Tuesday, December 22, 2020

Bank of Idaho opens wait list for Paycheck Protection Program applicants

Jeff Newgard
Bank of Idaho has announced the opening of a wait list for Idaho businesses interested in securing funds as part of the second round of the Paycheck Protection Program (PPP) included in the COVID stimulus package passed by Congress.

Businesses affected by the pandemic are eligible to receive low-interest loans under this program and can submit their waitlist application at https://www.bankofidaho.com/cares. PPP loans may be eligible for full or partial forgiveness if the money is used for qualifying costs and depending on the specific rules of the program. As soon as this program goes live, Bank of Idaho will start assisting clients on its waitlist.
In the first round of PPP funding, Bank of Idaho secured $96 million for more than 1,000 Idaho business owners.

“The PPP is a true lifeline for small- to mid-sized businesses,” said Jeff Newgard, Bank of Idaho
president and CEO. “With the pandemic still in full force, now’s the time for businesses to take steps to secure their futures. By joining our waitlist now, business owners will be able to submit their applications as soon as the program goes live. Even if business owners worked with another institution for Round 1 funding, they can choose any bank they like for Round 2.”

Bank of Idaho has been committed to community – and Idaho businesses – for more than 35 years.
With total assets of $551 million and growing, the Idaho Falls-based bank presently has 10 full-service branches in operation across southern Idaho. In addition to retail and commercial banking, Bank of Idaho also offers a full spectrum of trust and investment services, along with mortgage lending. For more information, please visit https://www.bankofidaho.com or call (208) 524-5500.