Paycheck Protection Program
January 15, 2021: The Coronavirus Response and Relief Supplemental Appropriations Act of 2021 allocates approximately $284 billion in new funding for the Paycheck Protection Program. Small businesses that received a PPP loan in 2020 may apply again under the criteria for the 2021 program. The new legislation also simplifies the forgiveness process for PPP loans of $150,000 or less.
January 19, 2021:Renasant Bank will continue our participation in this program so that we provide ongoing support to our communities. Please check back frequently as we will provide updated information once it becomes available
January 21, 2021: To aid in your understanding of the second draw PPP loan opportunity, resources are provided within the Renasant Bank PPP Customer Application Website. You may access a recording of the Renasant Bank PPP Customer webcast here: Renasant Bank Paycheck Protection Program-Customer Portal Application.
February 16, 2021: Our partner B2C has provided additional information to help PPP customers understand the application process. Please click here to read: biz2credit – PPP Program Update
February 17, 2021: Customers who have received an SBA Decision on their biz2credit (B2C) PPP loan may find these resources helpful:
- Recorded webinar from B2C - Next Steps for Customers with an SBA Decision on Their PPP Loan
- Webinar resource guide – Next Steps After SBA Decision Paycheck Protection Program
February 25, 2021: Helpful tips for using the B2C customer portal:
- Check the borrower portal regularly for updates on your loan.
- Most common issues that slow the approval process:
- No ACH voided check has been provided
- SBA 2483 is not eSigned
- Essential documents are missing
- Ensure your documents are loaded into the correct placeholder. Do not use additional placeholders unless absolutely necessary.
- Under ‘Business Phone Number’, use the best number for B2C to contact you.
- Review and double check your input information for accuracy.
- B2C secures E-Tran/SBA authorization BEFORE underwriting the loan to maximize funding access to customers. Final approval and loan amount are established AFTER SBA authorization is obtained.
Renasant Bank has partnered with Biz2Credit (B2C) to manage the PPP Loan process from beginning to end. You can expect B2C to provide the highest level of customer service just as you would receive directly from Renasant Bank. In addition, you can expect:
- Expedited approvals
- Reduced documentation
- Rapid fundings
- Electronic signatures
Customer Technical Support : [email protected]
Renasant Customer Support Hotline: 844.711.8989
- Monday through Friday: 7:30 AM - 10:00 PM EST
- Saturday & Sunday: 9:00 AM - 5:30 PM EST
- Customers may leave a message to be returned by a B2C customer support specialist
December 28, 2020: We are temporarily suspending the acceptance of new PPP Forgiveness applications while we wait for the SBA to issue new guidance. Customers will be notified when the application portal reopens.
January 14, 2021: Economic Injury Disaster Loan (EIDL) advances are no longer being reduced from PPP Loan Forgiveness. If you have already received forgiveness with the EIDL advance amount reduced from the forgiveness amount, you do not need to take any action at this time. Please see additional information that was sent to customers impacted by EIDL on January 14, 2021. (Click here to view the letter.)
February 10, 2021: The Small Business Administration (SBA) has indicated that, from February 9 through February 19, they will issue reconciliation payments for Economic Injury Disaster Loans (EIDL) Advance deductions previously impacting PPP Loan Forgiveness payments processed by SBA. Renasant customers will be notified upon processing of those funds.
- PPP – Loan Forgiveness Portal Link for Renasant PPP Borrowers
- PPP – Loan Forgiveness Document Requirements
- PPP – Loan Forgiveness FAQ (Customer Flyer)
- PPP – Loan Forgiveness Customer Resources
- PPP – Loan Forgiveness Customer Portal Video Tutorial
- PPP – Loan Forgiveness Customer Portal Uploading Documents Video Tutorial
- PPP – Loan Forgiveness Customer Portal 3508S Video Tutorial
- PPP – Loan Forgiveness Customer Portal User Guide
- PPP – Loan Forgiveness Customer Portal Document Manager FAQ
- PPP – Loan Forgiveness Affiliated Business Form
WARNING: The SBA has received notice of several instances of fraud by scammers attempting to take advantage of EIDL and PPP Loan customers. Contact your Renasant Bank Relationship Manager immediately if you suspect fraudulent activity in regards to your loan.