Paycheck Protection Program (PPP) Loans

Your small business is important to you and to our communities. The Federal CARES Act is designed to support small businesses through this difficult time. The Paycheck Protection Program (PPP) is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is intended to provide American small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loans. The funding is meant to help retain workers, maintain payroll, and cover business rent, mortgage interest, and/or utility expenses.

Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

**At this time we are only accepting Loan Applications for current Rio Bank customers.  We hope to make this program available to others soon.

PPP Loan Application Process

1.  Contact a Loan Officer at Rio Bank to determine if you are eligible to apply.

2.  Customer emails the required documentation to a Loan Officer (see PPP Application Checklist).

3.  After the Loan Officer reviews the documentation, customer will be given access to the PPP Online Application.

4.  Customer completes the application and it is submitted electronically to Rio Bank.

5.  Rio Bank will verify the application and then submit the request to the SBA for authorization.

6.  Once the request has been approved by the SBA, closing documents will be emailed to the customer for execution.

PPP Loan Forgiveness