Paycheck Protection Program

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

About the program


The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides for an emergency relief program, known as the Paycheck Protection Program, to support small businesses with funds to keep their workforce employed during the pandemic crisis. The Paycheck Protection Program is administered by the US Small Business Administration (SBA). Participating borrowers must meet the terms and conditions of the program, including eligibility requirements.


On April 16, 2020, the US Small Business Administration (SBA) stopped accepting applications for the Paycheck Protection Program (PPP) under the US Cares Act due to a depletion of funds.

We are not accepting new applications.

Through April 16th, SVB received more than 5,000 applications for PPP loans requesting more than $3 billion in total. We have been notifying applicants that have been approved and will notify other approved applicants as soon as possible. All others are currently in various stages of an internal review process and are being notified with an opportunity to keep applications on file and resume processing once certain conditions, such as the appropriation of additional funds, are satisfied.

It is our understanding that Congress may appropriate additional funds for the PPP, or a similar program, which could have different requirements.

Applicants should expect to hear from us at these points in the process:

- Confirmation of loan application submission

- If SVB has follow-up questions about your application submission

- Once your application has been fully approved, or declined

- If approved, to gather your signature on the loan documentation

- If approved, once funds are deposited in your designated account

- If you have an application under internal review

We have worked around the clock from the outset to stand-up our PPP lending program and we worked as quickly as possible to submit loan applications to the SBA for eligible applicants. Our goal has always been to help as many of our clients as possible. This is an unprecedented first-come, first-serve program that is complex and evolved even after the program began. As a reminder, applying for a PPP loan does not guarantee that a loan will be provided.


How do I know if my PPP loan is in process or approved?

We are able to provide the following status via email through the process:

- Confirmation of loan application submission

- If SVB has follow-up questions about your application submission

- Once your application has been fully approved, or declined

- If approved, to gather your signature on the loan documentation

- If approved, once funds are deposited in your designated account

- If the PPP funds are depleted and you have an application under internal review

When do you expect additional funds to be available?

We do not know.

How do I withdraw my application?

Send an email to

Are you accepting new applications?

We are not accepting new applications.

SVB application process


Please continue to check our FAQs page where we frequently add new responses to questions as they come up. We are experiencing high call and email volumes and appreciate your patience.


1. An SVB email was sent to your designated Primary Administrator in Online Banking

Your company’s Primary Administrator in Online Banking will have received an automatic Task from SVB indicating the PPP application is available to complete in SVB Online Banking. If you need to change your designated Primary Administrator, please click here for details:

Please visit Learning Central for a step-by-step process to complete the application

2. Have the following documents ready

You will need the following documents to complete your application: 

a. IRS Form 941 for the four quarters of 2019 and, if available, the first quarter of 2020.

i. If you work with a Professional Employer Organization (PEO) and do not have IRS Form 941, please have your latest payroll report from the PEO that covers 12 months of payroll.

b. If you do not file an IRS form 941 please upload the annual IRS 944 filing from 2019

c. Payroll data for the trailing 12-month period (there is no need to provide month-by-month data if this is not available)

Note that other documents and information may be needed based on your unique circumstances or as required by the Small Business Administration (SBA). As part of the application process, we will ask you to make the additional representations set forth below. We will not require you to provide a legal opinion in connection with your application.

3. Fill out the application

Please be aware that you may not receive a loan under the PPP simply by applying. Each application will need to meet both SVB’s internal requirements and those of the PPP. The timing of application processing and, if your application is approved, loan funding is uncertain and could be delayed significantly due to several factors, including the overwhelming interest in the program.

4. Expect to hear from SVB

Once you submit your application, you will receive an automated email to confirm receipt. We appreciate your patience during this very busy period. We ask that you wait for us to contact you with next steps and allow our teams to focus on application review and processing.

Process Map
svb ppp process map


In order to ensure that you take the SBA’s affiliation rules into account and to help you consider some of the scenarios that might trigger affiliation under these rules, we will ask you to make these additional certifications when you complete your application. Please consult your legal counsel as you review them:

  1. No business which, when combined with the Applicant, would have more than 500 employees (or any higher number provided in SBA standards for the relevant industry): (a) owns or controls more than 50% of the Applicant’s equity, or (b) has, pursuant to the Applicant's charter, bylaws or shareholder agreements, the ability to prevent a quorum or otherwise block action by the Applicant board of directors or shareholders, or (c) has the ability to control day-to-day activities of the Applicant through its Board or Shareholders (including for example, setting employee compensation, hiring and firing of executives, and purchasing or selling equipment);

  2. The Applicant is not one of the types of businesses ineligible for SBA business loans (see 13 CFR 120.110), nor is any owner of 20% or more of the business;

  3. The Applicant has considered the SBA’s affiliation rules and included the employees of its affiliates (at any level) when determining its eligibility for this program; and

  4. The Applicant has considered existing options, convertible securities, and agreements to merge when determining its eligibility for this program.


For the most up to date document requirements and answers to frequently asked questions, please visit

SVB PPP Care Team
1.833.450.5444 (toll free)
5:00 a.m. - 5:30 p.m. Pacific Time
(Monday - Friday)

From the SBA

The following information is an excerpt about the PPP from the Small Business Administration website for your reference:

Paycheck Protection Program Eligibility

  • This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.

  • Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.

  • Small businesses in the hospitality and food industry with more than one location could also be eligible if their individual locations employ less than 500 workers.

Loan Details and Forgiveness

  • The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

  • Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

  • This loan has a maturity of 2 years and an interest rate of 1%.

Learn more about the Paycheck Protection Program at the Small Business Administration website.