COVID-19 Assistance & CARES Act Information
We are here to help.
During these uncertain times, please know that your financial wellness is our top priority.
Reach out if you need assistance with your finances due to the current nationwide shutdowns caused by COVID-19.
Please call us: Customer Service <800-513-2360 or 574-235-2000
As a preferred SBA lender, 1st Source Bank is now accepting applications from our business and sole proprietorship clients for the SBA Paycheck Protection Program (PPP). The SBA will allow applications to be processed for independent contractors and self-employed workers starting Friday, April 10, 2020.
Please follow these steps to apply for a PPP Loan:
- Email your banker to receive a Secure Email to submit your application.
- If you do not have a banker, please contact your local banking center.
- Your banker will tell you whether you need to complete the Long or Short BOR Form.
- Respond to the Secure Email from your banker with your completed application, BOR Form and documentation from the application checklist.
- Your banker will keep you posted on the status of your application.
- Due to the large number of anticipated applications, we estimate that processing could take longer than usual; please be assured that we will process your application as quickly as possible.
More information regarding the PPP may be found here.
Please note: the SBA is also offering assistance through the Economic Injury Disaster Loan Program (EIDL), directly through their offices. These funds may be used for a wider variety of needs. More information is available through this link: SBA Disaster Assistance. You may qualify for a PPP loan if you have an existing EIDL loan, provided you do not use the loans for the same reason, or cost/expenses.
1st Source Bank is a seven-time SBA Gold Level Community Lender of the Year recipient. Our business banking team is poised and ready to serve our clients. Please reach out to your banker to determine if the PPP or EIDL program is right for your business.