Effective May 4, 2021, the Paycheck Protection Program funds offered through the Small Business Administration have been exhausted.
While the vast majority of applications that we have received have been successfully processed at this time, it is possible that applications received through this portal may result in a denial from the SBA due to the unavailability of funds remaining in the program.
CNB is committed to assisting our small business customers and our community as a whole. While the PPP is no longer available at this time, please contact your relationship manager or your local branch to discuss your needs and circumstances. The December 27, 2020 stimulus bill included an extension of the Paycheck Protection Program (PPP) with another round of $284 billion in funding available to help small businesses.
In 2020 Canandaigua National Bank & Trust (CNB) successfully assisted over 4,100 local businesses secure funding through the Paycheck Protection Program (PPP). We look forward to providing this assistance again in 2021.
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If you received your first PPP loan from a different financial institution, please click below to establish log in credentials.
Your SBA assigned account number, as found on your original note from your original Financial Institution, is REQUIRED to complete the application.
Please be sure to select the Second Draw Loan from the drop down to start your application.
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| FIRST DRAW LOANS |
SECOND DRAW LOANS |
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If you are applying for your FIRST Paycheck Protection Program loan, from any Financial Institution, use the first draw application. You will establish your log in credentials during the application process.
Do not use this application if you are applying for an increase or modification to an existing PPP loan. Please contact your relationship manager directly.
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If you have not already established your log in credentials for your first CNB PPP loan, please select forgot password when you open the Second Draw Application to proceed.
If you have established login and password to our online portal, those credentials will be used to access this application.
Do not use this application if you are applying for an increase or modification to an existing PPP loan. Please contact your relationship manager directly.
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| First Draw Application to be used ONLY if you are applying for your FIRST Paycheck Protection Program loan. If you already have a Paycheck Protection Program loan and want to apply for a second, please use the Paycheck Protection Program 2nd Draw Loan. If you are looking to increase an existing Paycheck Protection Program first draw loan as allowed under the Economic Aid Act, please reach out to your relationship manager directly. |
Second Draw Application to be used ONLY if you are applying for your SECOND Paycheck Protection Program loan. If you DO NOT have a Paycheck Protection Program loan and want to apply, please use the Paycheck Protection Program 1st Draw Loan. If you are looking to increase an existing Paycheck Protection Program first draw loan as allowed under the Economic Aid Act, please reach out to your relationship manager directly.
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Borrower Eligibility
- Small entities, that together with their affiliates (if applicable), have 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors.
- Entities with more than 500 employees in certain industries that meet SBA’s alternative size standard or SBA’s size standards for those particular industries can also apply.1
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Borrower Eligibility
- Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
- Has no more than 300 employees; and
- Can demonstrate at least a 25% reduction in gross receipts between comparable calendar quarters in 2019 and 2020.
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Maximum Loan Amount & Term
- 2.5X average monthly payroll, up to $10 million ($20 million corporate group cap)
- 5-year term
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Maximum Loan Amount & Term
- 2.5X average monthly payroll, up to $2 million ($4 million corporate group cap)
- 3.5X average monthly payroll for Accommodations & Food Services loans (NAICS code 72), up to $2 million
- 5-year term
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Eligible Expenses
- Payroll costs
- Business rent & lease agreements
- Business mortgage interest
- Business utility payments
- Covered operational expenditures
- Covered personal protective equipment (PPE) expenses
- Covered property damage expenses
- Covered supplier expenditures
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Eligible Expenses
- Payroll costs
- Business rent & lease agreements
- Business mortgage interest
- Business utility payments
- Covered operational expenditures
- Covered personal protective equipment (PPE) expenses
- Covered property damage expenses
- Covered supplier expenditures
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Full Forgiveness Terms
First Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:
Employee and compensation levels are maintained;
The loan proceeds are spent on payroll costs and other eligible expenses; and
At least 60 percent of the proceeds are spent on payroll costs.
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Full Forgiveness Terms
Second Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:
Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan;
The loan proceeds are spent on payroll costs and other eligible expenses; and
At least 60 percent of the proceeds are spent on payroll costs.
Documentation substantiating at least 25% reduction in gross receipts is required and due;
- For loans greater than $150,000, at the time of application
- For loans of $150,000 or less, before or upon seeking loan forgiveness, or upon SBA request
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How and When to Apply
All applications must be received through our online portal.
The application will remain open until May 31, 2021 or until program funds are fully exhausted (whichever comes first).
All new First Draw PPP Loans will have the same terms regardless of lender or borrower. |
How and When to Apply
All applications must be received through our online portal.
The application will remain open until May 31, 2021 or until program funds are fully exhausted (whichever comes first).
If you have not already established your log in credentials for your first PPP loan, please select forgot password when you open the Second Draw Application to proceed.
All Second Draw PPP Loans will have the same terms regardless of lender or borrower. |
1Also eligible to apply for First Draw PPP Loans are businesses with a NAICS Code that begins with 72 (Accommodation and Food Services sector) or eligible news organizations with no more than 500 employees per physical location, as well as housing cooperatives, 501(c)(6) organizations, or destination marketing organizations with no more than 300 employees.