UPDATED JANUARY 19, 2021 AT 12:30 PM
Paycheck Protection Program (PPP) Under The Economic Aid Act
Lakeland Bank is currently accepting online applications for PPP First Draw Loans to first-time borrowers as well as new PPP Second Draw Loans for previous PPP borrowers under the Economic Aid Act.
Applications will be limited to our existing business customers who have established loan or deposit relationships with Lakeland Bank as of 12/31/2020.
If you are interested in applying for funding under these programs, information regarding next steps is outlined below. Additional tips from our partner BDO, an accounting firm specializing in PPP guidance, are available here.*
If you previously received PPP funding from Lakeland Bank:
- You may access our online portal using the "Start Application" button below to begin your application.
- By providing the following information, you are consenting to receive electronic communications from Lakeland Bank for all matters related to this inquiry and/or associated PPP application.
The SBA is currently accepting approved applications from Lakeland Bank. Upon satisfactory review and approval of your completed application, Lakeland Bank will submit your application to the SBA for final review and approval. The SBA review and approval may take several days.
If you have not previously received PPP funding from Lakeland Bank OR if you have received PPP funding from another financial institution:
- Please complete our inquiry form using the "Complete Inquiry Form" button located below to enable our team to confirm your business information and allow access to our online application portal. This inquiry form is not an official application and should only be submitted once per business entity.
- It is our intention to review the provided information and contact you within one business day at the phone number or email address you provided if additional details are needed. Contact may be delayed based upon request volume.
- If no further information is needed, it is our intention to provide you access to our online application portal at https://lakelandbank.expressbanking.net/2/#/match within one business day.
- Following completion of our inquiry form, online application portal access may be delayed based upon request volume. If you cannot access our online application portal within one business day, please contact SBAPPPOriginationCommunication at lakelandbank dot com.
- By providing the following information, you are consenting to receive electronic communications from Lakeland Bank for all matters related to this inquiry and/or associated PPP application.
The SBA is currently accepting approved applications from Lakeland Bank. Upon satisfactory review and approval of your completed application, Lakeland Bank will submit your application to the SBA for final review and approval. The SBA review and approval may take several days.
Please refer back to this website for updates.
For information regarding the status of current forgiveness applications related to PPP funding previously received under the CARES Act, visit LakelandBank.com/PPP-Loan-Forgiveness.
* All content on the BDO website is the opinion of and owned by BDO USA, LLP and is based upon information that BDO considers reliable. Lakeland Bank does not warrant its completeness or accuracy.
Economic Injury Disaster Loans (EIDL)
If your business has been impacted or is suffering substantial economic injury because of the Coronavirus COVID-19 pandemic & is located in a declared disaster area, you may be eligible for a low-interest disaster assistance loan through the Small Business Administration (SBA). These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
Follow this link for information and how to apply through the SBA.
New Jersey Business Portal
In addition, New Jersey has created a website for businesses to find resources. There is a chat bot (live chat) where you can ask questions and receive answers in a timely manner. Businesses may also call 1-800-JERSEY-7.
