After more than a year of operation and serving more than eight million small businesses, funding for the bi-partisan Paycheck Protection Program has been exhausted.
Langley is proud to have had the opportunity to support our local community by offering SBA First and Second Draw loans for eligible businesses throughout the Paycheck Protection Program.
We are no longer able to process any applications that have not received an SBA approval. Please refer to the SBA’s COVID-19 Relief Options page for information on other COVID relief programs being offered.
On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021. This legislation includes changes to the forgiveness process for the Paycheck Protection Program (PPP), funding for another round of PPP lending, and certain changes and clarifications to the program’s structure and eligibility criteria. As before, under the PPP, the Bill authorized approximately $284 billion in new funding for first and second forgivable PPP loans.
PPP funds have been exhausted as of May 5, 2021. Langley is currently accepting PPP Loan Forgiveness Applications. You will find the forgiveness applications linked at the bottom of this page. For a full description of the terms and conditions governing PPP first and second loans, including the loan’s interest rate, maturity, and conditions for forgiveness, please visit the SBA’s PPP page.
For additional information, please refer to the U.S. Department of the Treasury’s CARES Act Assistance for Small Businesses website or the SBA's dedicated PPP website.
For additional information, please refer to the U.S. Department of the Treasury’s CARES Act Assistance for Small Businesses website or the SBA's dedicated PPP website. You may also contact one of Langley’s Commercial Loan Officers by calling 757.224.4777 or emailing us at [email protected].