Small Business Administration CARES Act
Paycheck Protection Program
With the increase in funding for the Paycheck Protection Program, the Small Business Administration has resumed accepting applications for guaranty and approval.
We are working diligently to process as many applications as possible and we are submitting applications to the SBA in the order they were received. There is no guarantee that all applications will be approved by the SBA before funds are depleted. With the high demand for the program, it is likely that requests will likely exceed available funding.
If you have already submitted an application, you do not need to take any additional action. You will be contacted by a bank representative if additional information is required to process your application.
Applications are processed in the order they are received. The Paycheck Protection Program is administered by the SBA and is limited to an authorized funding amount. The SBA has indicated that loans under the Paycheck Protection Program will be made available on a first come, first served basis. Given the limitations on SBA authorized funding and the significant volume of applications already submitted to Westamerica Bank and other lenders, not every qualified applicant will receive loan proceeds under the program.
Important Information About Our Application Process
This program is available to current Westamerica Bank deposit customers with accounts opened prior to February 15, 2020. Applications are only accepted online; we are unable to process paper applications. To ensure the application process goes smoothly, see below for data requirements so you will be prepared to submit all required documentation. There is high demand for this program, so please be patient as we do our best to assist all customers with their application.
Please Review Prior To Starting The Application
The following data is required to complete an application. Be sure to have all available prior to starting the application. You will not be able to submit the application if any information is left blank.