SBA - Paycheck Protection Program



Paycheck Protection Program

 This information is based on currently available information and is subject to change. We are committed to keeping you informed as we receive additional guidance.


June 2, 2020

  • We are only accepting new PPP applications until midnight of June 15, 2020.
  • Resubmissions for additional funds will not be accepted.
  • Current PPP Customers, please review the updated Forgiveness Phase section below for new FAQs and the recently released application.

Additional Information

Application Process

Only Crest Savings Bank's business customers with a deposit or lending relationship as of March 1, 2020 will be eligible to apply through us. Please note this loan will be processed and a decision will be made by SBA. Crest Savings Bank is only a gateway to facilitate your request. Although we may receive additional guidance from the SBA, our current understanding of the program is below.

The most efficient application process is completely electronic. Given the significant volume of loan applications, it is important that you complete your application accurately with the required documents. Inaccurate and/or incomplete documentation will impact how quickly we can process the application. Please note that customers should NOT go to the Branches as they will not be able to assist with the Payment Protection Program application process.

  • At this time, we are only accepting new PPP applications until midnight on June 15, 2020.
  • To comply with the SBA’s current requirements to collect payment and loan information by May 29, 2020, we are no longer accepting resubmissions for additional funds as of 1:00 P.M. on May 26, 2020.

Required Documentation

To begin the PPP loan application process, please complete and send the following required documentation to support certification that, as of or around February 15, 2020,

  • you had employees for whom you paid salaries and payroll taxes (or paid independent contractors), OR 
  • you are an independent contractor.

Please note, for seasonal businesses, we will consider whether a seasonal borrower was in operation 

  • on February 15, 2020 OR
  • for an 8-week period between February 15, 2019 and June 30, 2019.

Email all documentation to 

Due to overwhelming demand from the SBA, an application submitted to Crest Savings Bank does not guarantee you will receive a PPP loan.

  • A completed application
  • Please specify period used and include required documentation based on type of business in your reply:
    • 2019 IRS Quarterly 940, 941 or 944 payroll tax reports;
      • 1099s for independent contractors; OR
      • For sole proprietors, Payroll processor records, Payroll tax filings, Schedule C, Other income and expense documents if none of the above is available for the last 12 months or for 2019. The documentation provided must be from the year ended 2019 or from the last 12 months; 2018 Schedule Cs cannot be used; if you have not done your 2019 tax returns, you will need to provide an internal income statement for us to document income.
    • Payroll reports for a consecutive twelve-month period, which will show the following information:
      • Gross wages for each employee, including officer(s) if paid W-2 wages.
      • Paid time off for each employee
      • Vacation pay for each employee.
      • Family medical leave pay for each employee.
      • State and local taxes assessed on an employee’s compensation.
      • Seasonal employers may determine their maximum loan amount for purposes of the PPP by choosing the average total monthly payments for the 12-week period beginning February 15, 2019, or at the election of the eligible borrower, March 1, 2019, and ending June 30, 2019 OR may alternatively elect to determine their maximum loan amount as the average total monthly payments for payroll during any consecutive 12-week period between May 1, 2019 and September 15, 2019.
    • Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan.
       Include all employees and the company owners.
    • Document the sum of all retirement plan funding that was paid by the company owner(s) (does not include funding that came from the employees out of their paycheck deferrals).
      • Include all employees, including company owners.
      • Include 401K plans, Simple IRA, SEP IRAs.


Back to Top