SBA - Paycheck Protection Program



Paycheck Protection Program

The information contained in this page is based on laws, rules, regulations, and related guidance with respect to the Paycheck Protection Program, including guidance issued by the U.S. Small Business Administration (SBA) as of January 19, 2021. We will periodically update this information, so please check back often. You may even want to consider bookmarking this page.

For the latest information from SBA regarding PPP please visit SBA PPP Page

In the event of any discrepancies between the information on this site and the SBA’s site, please follow official SBA guidance.


May 4, 2021

Crest Savings Bank has stopped accepting new PPP loan applications at this time.
The Small Business Administration has informed trade associations that the Paycheck Protection Program funding has been exhausted and that the PPP application portal will stop accepting applications for loans.

Additional Information

Application Process

Only Crest Savings Bank's customers with a deposit or lending relationship as of November 30, 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.

  • Applications will be accepted through Midnight of March 15, 2021 to allow Crest time to process and submit the loan to SBA prior to expiration date of March 31, 2021. NOTE: The SBA cannot approve any loans after the March 31 deadline set by statute, so it is suggested that borrower apply as soon as possible to allow for both Bank and SBA processing time and error resolution.

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, (meaning an employer that does not operate for more than 7 months in any calendar year or that during the preceding calendar year, had gross receipts for any 6 months of that year that were not more than 33.33 percent of the gross receipts of the employer for the other 6 months of that year), we will consider whether a seasonal borrower was in operation 

  • on February 15, 2020 OR
  • if the business was in operation for any 12-week period between February 15, 2019 and February 15, 2020.

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 or 2020 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, 2019 or 2020. The documentation provided must be from the year ended 2019 or 2020 or from the last 12 months; 2018 Schedule Cs cannot be used; if you have not done your 2019 or 2020 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.
      • a seasonal employer must determine its maximum loan amount for purposes of the PPP by using the employer’s average total monthly payments for payroll for any 12-week period selected by the seasonal employer beginning February 15, 2019, and ending February 15, 2020.
    • Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan.
      • Include all employees, including 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