PPP - Initial Loans

First Draw PPP Loans

We are now accepting PPP Loan Applications from current business clients.

Please note that this page is for current Mechanics Bank business clients who have NOT had a previous PPP Loan. If you already have (or had) a PPP Loan (from us, or a different lender), please visit our PPP 2^nd Draw Loan page.

Please review the information in the initial loan resource links, and ensure you understand the program details, including eligibility requirements, loan proceed usage requirements, and loan terms. Please also be sure to have all necessary information and supporting documents available.

PPP Application Deadline

The deadline to apply has been extended to May 31, 2021, or until PPP funds run out. Applications received by the SBA from Mechanics Bank by May 31, 2021 will continue to be processed until June 30, 2021 (unless program funds have run out). Applications may experience a longer processing time because of additional reviews the SBA is performing on each application. We cannot guarantee that your application will be processed and approved by the SBA before funds are exhausted, or before the June 30, 2021 funding deadline.

Initial PPP Loan Resources

SBA Website

U.S. Treasury Website

Interim Final Rule of Paycheck Protection Program as Amended by Economic Aid Act (1/6/21)

Top Line Overview of Initial PPP Loans

PPP FAQs (U.S. Treasury Dept.)

Required Documents

Communicating with your Loan Processor

Once you have started your loan application, please remember that you can email directly with your PPP Loan Processor by responding to any email from PPPLoans@mechanicsbank.com that includes your unique PPP User ID (the series of letters and numbers separated by a hyphen in the subject line of the email). In order for your email to be received by your loan processor, you must ensure that you do not alter this unique PPP User ID in the Subject Line of the email message you send. Altered PPP User IDs in the subject line of emails may not get to your loan processor.

Browser Settings

Please make sure you are using the latest web browser versions of either Google Chrome or Microsoft Edge (you may download either by clicking on the links). The Application Portal will not work with Internet Explorer (IE), Safari or Firefox . Please also adjust your browser settings to allow/permit “Third Party Cookies” and “Pop-up Windows”.

Quick Facts for First Time Borrowers

Max Loan Amount & Term	Up to $10,000,000 Max 5-year term Loan amount is based on payroll expenses
Loan Uses	Payroll costs Mortgage interest / lease payments Utilities Interest on other pre-existing debt Additional categories-covered operating expenditures, property damage, supplier costs, worker protective equipment
Forgiveness Available	Yes, if borrower completes any applicable forgiveness application and retains/ provides any required documentation. At least 60% of funds must be used for payroll costs.

First Draw PPP Loans

PPP Application Deadline

Initial PPP Loan Resources

Communicating with your Loan Processor

Browser Settings

Quick Facts for First Time Borrowers

Frequently Asked Questions

Eligibility for the New PPP Loan Program

Start Your Application

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