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Small Business Administration (SBA) Loans

As an SBA Preferred Lender, we offer the full range of SBA loan products.

SBA Paycheck Protection Program (PPP) (EXTENDED to May 31, 2021)

We are now accepting applications for the second draw of PPP Loans as well as first time applicants  who did not apply during the first round of PPP Loans.

Second Draw PPP Loan:

If you have previously received a PPP Loan – complete this form:

    • Must demonstrate at least a 25% reduction in gross revenue from any quarter in 2020 as compared to that same quarter in 2019, or between yearend 2019 and yearend 2020
    • Loan calculation is the same – avg monthly Gross payroll from calendar year 2019 (or 2020) x 2.5
      • NEW NAICS code 72 industries (hotels/restaurants) can qualify for avg monthly Gross payroll from calendar year 2019 (or 2020) x 3.5
      • Customer can choose to use Year-end 2019 or Year-end 2020 Gross payroll numbers to determine loan amount
    • New additional acceptable uses of PPP funds. (Reminder:  only 40% of funds can go towards all acceptable “Non-Payroll” costs)
      • Covered operations expenditures (expenditures for software, cloud computing, and other human resources and accounting needs);
      • Covered property damage costs (expenditures related to property damage due to riots in 2020 that are not covered by insurance);
      • Covered supplier costs (expenditures to a supplier pursuant to a contract, purchase order, or order for goods in effect prior to taking out the loan that are essential to the borrower’s operations at the time at which the expenditure was made; supplier costs of perishable goods can be made before or during the life of the loan); and
      • Covered worker protection expenditures (expenditures for PPE and other adaptive investments (drive thru window install/building modifications) to help the borrower comply with health and safety guidelines between March 1, 2020, and the end of the national emergency declaration).
    • Not required to have 1st PPP loan forgiven to qualify, but must have already used all proceeds from the 1st PPP loan before applying for the Second Draw PPP loan
    • Entities that received a grant under the “Shuttered Venue Operator Grant Program” are not eligible for “Second Draw PPP loans”
First Time PPP Borrowers:

If you have not applied for a PPP Loan and this is your first time applying – complete this form: SBA – Form 2483 – PPP First Draw application

The 25% revenue reduction requirement is not required for first time PPP borrowers.

If you have any questions about the application process, or would like to apply, please call your local GBT Branch to speak to your lender and receive a comprehensive checklist. We ask that you complete each checklist item before sending the full package back for consideration.

Documentation needed to apply:
    • SBA Form 1919 BORROWER INFO FORM pp. 2-5 for the business, and then pp. 6-10 of the Form 1919 for all owners of 20% or more
    • IRS Form 941 as of the most recent or current quarter
    • State Quarterly Wage Unemployment Insurance Tax reporting forms from each quarter in 2019 or 2020 (depends on if customer chooses Year-end 2019 or 2020)
    • 2019 or 2020 IRS Form 940 (depends on if customer chooses Year-end 2019 or 2020)
    • Partnerships (1065 Tax Return filers) – must include IRS Form 1065 Schedule K-1s for each partner
    • For 25% revenue reduction test – (Only required for Second Draw PPP Applications) Internal P&L Statement from same quarter (customer choice of which quarter) from 2019 and 2020, or Internal P&L Statement or Tax Returns from YE 2019 and 2020 –
      • Examples – 1st Q of 2019 and 2020; or 2nd Q of 2019 and 2020, etc. – Customer choice of which quarter
      • Examples – YE 2019 and 2020 P&L statement, or 2019 and 2020 Tax Returns
    • 2019 or 2020 – Year-end Detailed Payroll Summary to cap any annual salaries above $100k
      • Sole Proprietors/Self Employed – 2019 or 2020 Sch C or Sch F, and all of the above
        • If Sole Proprietor/Self Employed with NO EMPLOYEES – payroll summary not required, just 2019 or 2020 Sch C or F, and all of the above

Please supply all requested items and COMPLETELY fill out the forms checking every box, filling every field and initialing every blank or it will delay the loan process.

SBA Paycheck Protection Program (PPP) Loan Forgiveness

To apply for PPP Loan forgiveness, visit our PPP Loan Forgiveness Portal

APPLY FOR PPP FORGIVENESS

Please note that we will not accept paper or PDF forgiveness applications.

SBA Economic Injury Disaster Loans (EIDL)

Louisiana businesses and non profits can apply for low-interest SBA Economic Injury Disaster Loans (EIDL) for working capital due to suffering substantial economic injury as a result of the Coronavirus (COVID-19).

Please visit the link below to apply. You will apply directly through the SBA website below. If you have any questions, about the application process, call your local GBT Branch to speak to your lender.

To apply:
• https://disasterloan.sba.gov/ela/
• Call Toll Free 1-800-659-2955
• e-mail: [email protected]

SBA Loans

Use them to finance commercial real estate, purchase equipment, grow your inventory, or for short-term working capital. Our lending team brings expertise that’s unsurpassed. Let us put it to work for you.

  • Use funds for most anything
  • Low rates
  • Various terms up to 25 years
  • Experienced advisors
  • Local decisions
  • Quick approvals
  • Personal attention
  • Easy to apply

Learn more about SBA lending

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