COVID-19 Small Business Assistance and Paycheck Protection Program Loans
Paycheck Protection Program Update
You have probably heard that Congress approved additional funding for the Paycheck Protection Program.
As we saw with the first round of funding, as demand for this assistance grows, the pool of money will shrink. We cannot guarantee how long we will be able to take applications.
Submitting a Paycheck Protection Program application or the required supporting documentation does not guarantee approval or funding.
BBVA wants to help you and your small business
BBVA continues working with small businesses and continues taking Paycheck Protection Program loan applications. We are accepting PPP applications from customers and non-customers.
For your convenience, we have outlined the steps for applying for a Paycheck Protection Program Loan with BBVA.
Step 1: Download and fill out a Paycheck Protection Program application
Step 2: Download and gather all required documentation from the Paycheck Protection Program PDF checklist
Step 3: Find your nearest branch using the branch locator
Step 4: Choose your method of initial application submission:
- Email option: Call your branch using the number provided by the branch locator. A branch manager can assist you with submitting your application securely by email using SecureSend.
- Drive-thru option: Visit your nearest branch and provide your materials using the branch’s drive-thru.
Step 5: Once the BBVA Branch Manager has confirmed that your application is complete, they will contact you to schedule an in-person lobby appointment to meet you, confirm your identity, and finalize the application. Then the application will be submitted.
Non-customers: We are accepting Paycheck Protection Program applications from non-customers. An applicant must have an active BBVA business checking account to apply.
- Please use our branch locator tool for contact information to schedule an appointment to open a BBVA business checking account.
- You will be able leave your completed PPP loan application and all required documentation when you come in to open your BBVA business checking account.
- Please click here to review all the documentation you will need to provide to open your BBVA business checking account.
To begin the application process, download and complete the form below. Submitting an application does not guarantee approval or funding of the loan.
Find A Branch
Use our Branch Locator map to find a nearby branch that is currently open. Please note that due to COVID-19 some of our branches are closed.
See this linked PDF for a list of required documents. An applicant must have an active BBVA business checking account to apply.
- If you have already applied for the PPP program with BBVA USA, please do not resubmit your application as this could lead to processing delays.
- Once you are ready to submit your application, make sure you have ALL required supporting documents listed in the "PDF Checklist" and that the application is fully completed. If you do not provide ALL supporting documents, we may be required to process your application with incomplete information which will likely result in your credit application being declined for incompleteness.
Commercial & Wealth Customers
Please contact your Relationship Manager, and they will help guide you through the application process.
Please remember that if you are visiting a branch, you should use schedule an appointment using the branch locator information above. Not all branches are currently open or accepting appointments. Visiting a branch without an appointment may result in our team being unprepared to help you. Additionally, please do not send in any SBA or US Treasury department forms.
Below are additional assistance options that may be available to you:
- If you need to request a Small Business Loan payment deferral or extension, please fill out a request via our Online Payment Assistance Portal for the fastest response.
- Small business customers may request refunds of overdraft fees.
- Temporary waiver of the Monthly Maintenance Fee for the desktop Remote Deposit Capture Service. Available upon request.
- Temporary waiver of the deposit account monthly Service Charge. Available upon request.
- Free Virtual Terminal for Current Clover Merchants (for new Merchants available upon request.)
Next Steps for PPP Loan Recipients
For those eligible recipients that have received a PPP loan, please check back soon for additional information regarding the process and required documentation to be considered for loan forgiveness. Please note an eligible recipient of a PPP loan will receive complete payment deferment relief including the payment of principal, interest and fees for 6 months. We are waiting for additional guidance from the SBA regarding loan forgiveness.
Frequently Asked Questions
What will the SBA assistance for my small business cover?
Permitted uses for businesses impacted by COVID-19 include: payroll costs, employee salaries, costs related to continuation of group health care benefits during paid sick, family or medical leave, insurance premiums, mortgage interest payments, rent, utilities, and interest on any other debt obligation incurred before February 15, 2020.
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Together, we will get through this challenge.
BBVA will continue to monitor conditions and look for ways to improve our service while protecting customers and team members alike. Please stay safe.
Please remember that BBVA will never call, email, or text you and ask for your PIN or private financial information. For security tips and helpful links, please visit our Security Center.
Details you need to make a smart decision
In addition to BBVA requirements, all SBA loans are subject to program eligibility and approval, including credit approval. © 2020 BBVA USA Bancshares, Inc. BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group. BBVA USA, Member FDIC.
BBVA USA will not pay any agent or other person a fee or other compensation to assist an eligible applicant prepare an application.