Attention: PPP ONLINE LOAN APPLICATION PORTAL IS LIVE. Click here to link to the applications and for additional program details. Existing PPP borrowers must provide their SBA assigned account number as found on their original note (DocuSign). This number is
different than your CNB loan account number.
PPP Updates:
2/24/2021: SBA Opens application period exclusively for businesses with fewer than 20 employees. From February 24, 2021 through midnight on March 9, 2021, the Small Business Administration (SBA) is exclusively accepting applications from businesses with fewer than 20 employees. CNB will continue to accept applications for businesses with more than 20 employees; however, we cannot submit these applications until the restrictive period ends.
3/5/2021: SBA releases new interim final rule (IFR), effective today. Highlights of the IFR include: revised loan calculation formula for Form 1040, Schedule C sole proprietors, independent contractors, and self-employed individuals to use gross income (re: line 7) instead of net income (re: line 31), allowing for larger loan requests; this new calculation is applicable for new applications or loans not yet disbursed, not retroactive to disbursed loans; $1 billion has been set aside for PPP loans to businesses in this category who do not have employees and are located in low- or moderate-income areas; elimination of qualifying restrictions for small-business owners delinquent on their federal student loans or with prior non-fraud felony convictions.