Plains Commerce Cares
Paycheck Protection Program: Key Changes
On March 18, 2021 the Small Business Administration (SBA) released an updated set of guidance regarding the Paycheck Protection Program Second Draw Loans. Below you will find updated applications for the Paycheck Protection Program loans:
Loan Forgiveness Applications & Instructions:
For more information regarding these changes:
US Treasury and IRS begin delivering second round of Economic Impact Payments
Leaders in the House and Senate have agreed upon a COVID-19 relief bill, which includes a second round of stimulus checks in the amount of $600 per adult and dependent children, subject to income limits. These payments are expected to follow income phase-out limits as it was in the original CARES Act. The first wave of checks is set to be direct deposited into accounts beginning the week of January 4, 2021. Prepaid cards, paper check, and additional direct deposits will arrive in the following weeks.
Important COVID-19 Updates
At Plains Commerce Bank, our first priority will always be the health and safety of our customers, our employees, and their families. We continue to monitor daily news developments and CDC recommendations and below you’ll find important information and resources as we transition back to our new “normal”.
Paycheck Protection Program (PPP)
As a vital piece to the COVID-19 stimulus package, the Paycheck Protection Program (PPP)* is set to provide a short-term lending vehicle for any employers to help keep their employees in place in hopes to avoid of avoiding long-term unemployment.
PPP loans may be used for a variety of purposes
Loan Forgiveness and Instructions
Summary of the Forgiveness Application
Congress unanimously passed legislation that could ease restrictions on how businesses are able to use their funds received from the PPP hoping to make loan forgiveness more accessible. Please note that further guidance and clarification from the SBA and Treasury is likely.
Paycheck Protection Program Flexibility Act of 2020 highlights are as follows:
Steps Borrowers Should Take Now
Bank From Anywhere
Online and mobile banking options make banking from work or home easier than ever—especially when you’re feeling ill. Skip the trip and set up automatic payments, make a deposit, transfer funds, and other conveniences right from your device.
Mobile Banking Benefits
Online Banking Benefits
Branch Lobby Reopening Details
As our branch lobbies are now open, we ask that you first make an appointment by contacting a banker as it’s the best way for us to maintain health and safety measures.
Prior to visiting a branch, please review and follow these best practices
1. Enter the branch only if you feel well
2. Maintain social distancing
3. Wash and sanitize your hands
4. Limit contact
We're here to help. Please contact your banker for additional information regarding these resources.
Contact UsTo contact us, Contact Us
Commerce Community Checking
We’re committed to supporting and helping improve our local communities, small businesses, and organizations that spend their days helping others. That’s why we developed Commerce Community Checking—a program developed specifically for sole proprietors, nonprofit organizations, churches, and social clubs.
Fraud Center & COVID-19 Scam Information
Expand the options below to view information on Coronavirus and COVID-19 scams. This information is provided by the new task force, the Better Business Bureau, and the Federal Trade Commission.
Government Relief Check Scams
Price Gouging Scams
Misinformation & Rumors
General COVID-19 Resources
Check out these links for up to date information from the CDC & WHO: