At Midland, serving our communities and providing financial services at a time when our customers need us most is what we do, we always have.
When the Government formally approved Round 2 of the Paycheck Protection Program (PPP) as part of the Economic Aid Act, we anticipated a high volume of applicants and we worked diligently to assemble a dedicated team and a process to accept applications.
We are proud to have assisted so many over the past several months.
The SBA has confirmed funds are now depleted for new applications.
- Related to this announcement, we are no longer taking new applications.
- According to the information we have at this time, the SBA will continue funding outstanding approved PPP applications.
- The SBA determination of applications submitted, but not yet approved by the SBA is pending. We continue to actively monitor guidance.
- We are evaluating the que of our loans in process and we will provide communication through our Relationship Managers to impacted clients.
- The current SBA Forgiveness Application process is not impacted. Visit our PPP Loan Forgiveness resource page for details.