Paycheck Protection Program Loan

We are not currently participating in the newest round of the Paycheck Protection Program launched on Jan 11th. If you applied on or before June 26, 2020, you can still sign in and check the status of your application


COVID19 Open America

If you are applying for a second draw

  • Your business has fewer than 300 employees
  • You can show a 25% revenue reduction during the first, second, third, or fourth quarter of 2020 relative to the same quarter in 2019

If you own a restaurant, hotel, or live venue that falls under a NAICS code starting with “72,” you can apply for 3.5 times your monthly payroll costs for your Second Draw.


How Can You Use Your Paycheck Protection Program Loan?

  • Payroll costs
  • Healthcare costs related to the continuation of group healthcare benefits during periods of sick, medical, or family leave, as well as insurance premiums.
  • Mortgage interest payments (but not prepayment or payment of the mortgage principal)
  • Rent
  • Utilities
  • Interest on any other debt obligations incurred before February 15, 2020
  • Refinancing an SBA EIDL received between January 31, 2020 and April 3, 2020
  • Covered expenditures such as business software or cloud computing services that facilitate:
    • business operations
    • product or service delivery
    • the processing, payment or tracking or payroll expenses, human resources, sales, and billing functions
    • accounting or tracking of supplies, inventory, records, or expenses
  • Covered property damage costs
  • Covered supplier costs
  • Covered worker protection expenditures

How to earn loan forgiveness

You may be eligible to have all or a portion of the loan principal and interest forgiven if you use the funds for certain qualifying costs incurred and payments made for payroll, mortgage interest, rent and utilities during the first eight weeks following the date the loan is made. You will have to provide documentation.

Because the SBA expects a high number of applicants for PPP loans, no more than 40% of the forgiven amount can be for non-payroll costs (i.e., mortgage interest, rent, and utilities). If your business has laid off employees, that will also affect how much your loan can be forgiven. The total effect on your PPP loan’s forgiveness-eligibility depends on a calculation that your funding manager can walk you through to give you the specific answer for your business.

Women holding open sign in front of business

Central Bank of Kansas City (CBKC) is a $238 million-asset community bank owned by the Tutera family. Central Bank has been recognized by the Community Development Financial Institutions Fund (CDFI) for the bank's investment in distressed communities and has been a certified CDFI since 1998. For nearly 70 years, Central Bank of Kansas City has been committed to building and supporting the area through community development. In addition, Central Payments operates as the payments division of CBKC and is one of the fastest growing prepaid cards issuer in the nation. Central Payments administers payment card and funds disbursement programs via retail, payroll and online outlets nationwide. CBKC is an equal opportunity provider, FDIC Insured and an Equal Housing Lender.