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Passed in March 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was designed to provide relief to individuals and businesses absorbing the impact of COVID-19 on our communities. A key component of the CARES Act is the Small Business Association (SBA) Paycheck Protection Program (PPP), which provides 100% SBA guaranteed loans to help businesses cover payroll costs, including benefits, to retain their workforce and assist with mortgage interest, rent and utilities.

PPP closed on August 8, 2020 and the SBA is no longer accepting applications. Borrowers may wish to read the FAQs or reach out to your banker for questions about your loan.

Applying for PPP Loan Forgiveness

Your Simmons banker will work with you to submit a loan forgiveness request. Please see our PPP Loan Forgiveness FAQ page for further details.

PPP Overview

Review important information about payment deferment, forgiveness eligibility, and additional details.

Security Notice

The Small Business Administration recently issued a cyber warning alert regarding email phishing campaigns where malicious actors are impersonating the SBA and its Office of Disaster Assistance to collect personally identifiable information (PII) for fraudulent purposes. The SBA is advising loan applicants to look out for email scams and phishing attacks using the SBA logo. These may be attempts to obtain PII, access personal banking accounts, or install ransomware or malware. For additional information, click here.

  • {101} The documentation/materials required of an Applicant (proposed Borrower) for a loan to be made under the SBA Paycheck Protection Program is preliminary. Changes may be made in the documentation/material required. In addition, Applicants will be required to submit additional documentation/material as required by the SBA. Loans through the SBA Paycheck Protection Program must be made by June 30, 2020.

    Please note that Simmons is continually working to update our resources as new information becomes available.
  • {97} Benefits and features are subject to customer qualification and approval by Simmons Bank.