Relief Bill: PPP Round 3
Relief Bill: PPP Round 3
Washington Trust Bank is now accepting applications for Paycheck Protection Program (PPP) first draw and second draw loans.
We understand that our customers and communities are experiencing unprecedented economic hardship and it is our utmost priority to ensure Washington Trust is here for you, your families, your business and employees.
We are eager to serve small businesses, minority and women owned businesses as well as the new industries that were not eligible to apply for the first round of PPP loans under the CARES Act, including, but not limited to:
- Housing cooperatives
- News organizations
- 501(c)(6) and destination marketing organization
Continue to visit this page for the latest information and guidance from the Small Business Administration (SBA) and to access helpful tools and resources for the PPP loan application process.
How to Apply for a PPP Loan
Washington Trust is a preferred SBA lender and is registered to fund SBA loans, including PPP loans. To initiate the loan process, please complete your application and contact your Washington Trust banker. Your banker will establish a secure document-sharing process for you to submit the application and required documentation. If you do not have a Washington Trust banker please contact a banker or call our Priority Service team at 800.788.4578.
PPP Loan Application Details
First Draw Borrowers
This PPP Round 3 loan option is for businesses who have not previously obtained a PPP loan through the CARES Act.
Second Draw Borrowers
The SBA has authorized certain borrowers who have already obtained a first draw PPP loan through the CARES Act to apply for a second draw loan through the new Relief Bill.
Don't have a Washington Trust deposit account?
New PPP borrowers that apply through Washington Trust are required to establish a business deposit account where loan funds will be deposited. Contact a banker or our Priority Service team to get started!
To apply for a PPP loan with Washington Trust, you must operate your business in the communities we proudly serve – Washington, Oregon or Idaho.
All PPP loans are subject to final approval by the SBA and the borrower certifying they have met all the SBA conditions and requirements.
Relief Bill Resources
Interim Final Rules (IFRs)
Summary of the SBA’s IFRs for PPP first draw and second draw loans.
First and Second Draw Summary
Summary of the SBA’s IFR addressing first draw loan increases.
First Draw Loan Increase Summary
Summary of the SBA’s IFR addressing loan forgiveness for this round of PPP loans.
Loan Forgiveness Summary
SBA Form 3511
The SBA will no longer allow affiliate information to be submitted on a word document. Borrowers are instead required to use SBA Form 3511.
