PPP LoanProgram Reopens

John D. Steinmetz, CEO Vista Bank - Preparing for PPP Loan

Reopening in 2021

Vista Bank's Dealing of PPPSome of the most important points about Vista Bank's PPP loan

Vista Bank was of the

top 25 Dallas Banks

writing PPP loans for

Round 1.

1

Vista teams are working

overtime to help

businesses put together

their loan applications.

Posting a number of

resources on the

website.

2 3

Main Points About PPP Round - 2The second round of PPP comes with some modifications compared to previous round

$2 million cap per

business compared to

$10 Million last year.

1

$284 billion in total

funding.

Emphasis on helping

minority, women and

veteran-owned

businesses.

2 3

500 Employees for round 1

300 for Round 1 EligibilityJohn D. Steinmetz explains the Eligibility

requirements for the loan.

Must have used round 1 PPPLoan

Before round 2 is disbursed

Loan forgiveness for round 1 isencouraged.

25% revenue loss in any quarterin 2020

Quarterly or annual basis

Must have been in operationprior to Feb. 20, 2020

Seasonal employers exempted

60% of the money must beused for Payroll.

Post ApprovalJohn Steinmetz explains terms and

conditions post-approval.

The rest for operational andpandemic related expenses.

Also property damage or lossfrom the protests not covered byinsurance.

Borrowers can choose a coverageperiod between 8 to 24 months.

The loans are tax-free.

Apply SoonBusinesses are encouraged to apply as soon as

possible.

The program closes on 31st March or when the $284

billion funding runs out.

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