Paycheck Protection Program
Peapack-Gladstone Bank helped over 2,000 local businesses through the Paycheck Protection Program and saved thousands of New Jersey jobs. That's community banking. We've been doing it for 100 years.
At Peapack-Gladstone Bank, we are rooted in supporting our communities, especially during challenging times. If you are looking for a Bank that will be there for you when you need it most, look no further than Peapack-Gladstone Bank.
PPP APPLICATION PROCESS
On May 4, 2021, the Small Business Administration (SBA) announced that PPP funding has been exhausted and that the PPP application portal will no longer accept applications for loans from most lenders. The SBA said that it has reserved approximately $6 billion in funding for previously submitted loan applications subject to SBA hold codes that have yet to be resolved. We will continue to solely focus on clearing SBA hold codes.
Additionally, The Loan Source will no longer accept new applications to submit to the SBA. The Loan Source portal is closed.
Please visit SBA.gov for information on other available SBA programs.
PPP FORGIVENESS PROCESS
Peapack-Gladstone Bank has engaged The Loan Source to take over the forgiveness and ongoing servicing process for a portion of its PPP loans.
The Loan Source and its servicing partner, ACAP SME, LLC, have invested heavily in technologies and personnel, to aid PPP borrowers through the forgiveness process via an online portal. Visit www.theloansource.com for more information and to register for forgiveness.