PPP Loans
PPP Loans
If you are applying for your first PPP loan at Blue Foundry Bank use the New Applicant button below.
Stay connected with your Blue Foundry Bank relationship manager as program guidelines are evolving.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
AMOUNT
Generally, up to $2 Million for eligible expenses
(Exceptions and eligibility criteria vary and may apply)
TERMS
1% annual percentage rate with maturity of 5 years
AVAILABILITY
Our application is open now
COLLATERAL
No collateral or personal guarantees are required
LOAN FORGIVENESS
Up to 100% of proceeds used for allowable expenses
To learn more about loan forgiveness for your existing PPP loan, please call 888-931-BLUE.
ELIGIBILITY
Most businesses and nonprofits as prescribed by the SBA*
(employee count and business entity exceptions may apply).
AMOUNT
Generally, up to $2 Million for eligible expenses
(Exceptions and eligibility criteria vary and may apply)
TERMS
1% annual percentage rate with maturity of 5 years
AVAILABILITY
Our application is open now
COLLATERAL
No collateral or personal guarantees are required
LOAN FORGIVENESS
Up to 100% of proceeds used for allowable expenses
To learn more about loan forgiveness for your existing PPP loan, please call 888-931-BLUE.
ELIGIBILITY
Most businesses and nonprofits as prescribed by the SBA*
(employee count and business entity exceptions may apply).
*Borrowers applying for a second draw loan may have no more than 300 employees and must show at least a 25% reduction in revenue in accordance with the requirements.