All News

Supporting Idaho Businesses with the Second Round of the Paycheck Protection Program

January 19, 2021

Woman talking on the phone in green shirt

Helping our members, including our business members, achieve financial success is our mission every day. We recognize that helping a business has far-reaching effects. When we are able to provide help, guidance, and relief to a business, we are able to help the business continue serving our communities.

When the first round of the Paycheck Protection Program launched in April, Idaho Central was able to help 30,000 Idahoans retain jobs by providing over 3,800 loans for a total of $165 million in relief funds. Idaho Central is proud to have helped more small businesses in Idaho than any other financial institution.

On December 27, 2020 a new round of PPP funding was approved, and it is our commitment to continue providing small business owners the most up-to-date information we can about the Paycheck Protection Program. The PPP rules and the PPP Forgiveness rules have changed frequently, and we will continue to keep you informed by keeping our website updated with information about both the Payment Protection Program, and other business relief options.

As of January 19, 2021, we are accepting both first-time and second-time PPP applications, and borrowers have until March 31, 2021 to apply for a PPP loan, or until the funds are exhausted.

Through all of this, we haven’t forgotten the gravity of the situation for many of our members. We are reminded daily of how helping local businesses is not just helping businesses, it is helping individuals. We are happy we could support so many in the first round, and the opportunity to continue to help keeps us motivated to provide the best experience for our members.

We are committed to helping businesses through these times. To receive additional information about Idaho Central’s business services, please fill out our Business Information Request form. If you have any questions or would like to explore any options as a business or individual, please reach out to us.