January 19, 2021 - Associated Bank announced today that it is now accepting new applications for the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). This round of the PPP continues to prioritize small businesses and their employees by authorizing up to $284 billion toward job retention and certain other expenses, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
“Small businesses have been hit particularly hard during the pandemic,” said Philip B. Flynn, Associated Bank president and CEO. “We are pleased to have the opportunity to help our customers access this new round of PPP funds and to continue to support the critical roles small businesses play in our communities.”
In 2020, Associated Bank secured more than $1 billion in PPP loans, supporting more than 8,000 business customers and 100,000 employees. These funds have served as an economic lifeline for business customers to maintain their workforces and remain viable through the COVID-19 pandemic. The company is now working with those same customers on the loan forgiveness process.
To meet the expected high demand for PPP funds, Associated Bank will begin processing new application inquiries immediately. Applicant participation is subject to SBA eligibility requirements and funds are limited.
Additional details about the application process are available at www.AssociatedBank.com/CARES. Customers may also find information about Associated Bank COVID-19 Relief Programs and other resources at www.AssociatedBank.com/COVID-19.
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ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of nearly $35 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 220 banking locations serving more than 120 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com