Elsa Branch

SBA Paycheck Protection Program Update

As of Thursday, April 16th, the $349 billion authorized for SBA Paycheck Protection Program loans has been fully exhausted. While the SBA is no longer accepting applications for PPP loans, you may continue to submit your completed application to SBAPPP@texasnational.com.

Pending Applications:
Applications previously submitted to Texas National Bank but not yet submitted to SBA will be placed in a holding queue should the funds be replenished through new congressional legislation. To date TNB has submitted well over 90% of the applications considered complete up to 4/15/2020.

Self Employed/1099 Income Earners:
Please take note that 1099 applications and/or self employed applications require additional documentation in accordance to newly issued guidance by the US Treasury. Please reach out to your lender to make sure you have submitted your 2019 Sch. C form (found in your 1040 Income Tax Return). If you have not filed your return please visit our website for a blank version to complete.

We remain hopeful that more funding may become available and are fully prepared to work after-hours and through the weekend to process all applications.

Please note, the submission of an application does not guarantee approval or that additional funding will become available.

We will continue to provide you with more information as it becomes available.

PPP Round 2 still available! Apply Today! Click here for more information.

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SBA Paycheck Protection Program Update