Bank of Idaho prepared for PPP’s Round 2

IDAHO FALLS, Idaho (KIFI/KIDK)-The Bank of Idaho has opened a waiting list for Idaho businesses interested in securing funds under the second round of the federal Paycheck Protection Program.

Affected businesses could receive a low-interest-rate loan under the program.  PPP loans may also be eligible for full or partial forgiveness if the money is used for qualifying costs under the specific rules of the program.

The Idaho Falls-based Bank of Idaho said it would start assisting clients on its wait list as soon as the program goes “live”.  

“The PPP is a true lifeline for small- to mid-sized businesses,” said Jeff Newgard, Bank of Idaho president and CEO. “With the pandemic still in full force, now’s the time for businesses to take steps to secure their futures. By joining our waitlist now, business owners will be able to submit their applications as soon as the program goes live. Even if business owners worked with another institution for Round 1 funding, they can choose any bank they like for round two.”

The bank said it secured $96 million for more than 1,000 Idaho business owners during the first round of the PPP program.

Business owners can submit their wait-list application here.