COVID-19
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Paycheck Protection Program (PPP) Loan

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UPDATED January 15th, 2021

Our PPP application platform is available again. If an APPLY NOW button does not appear in the right section of the banner, please refresh this page in your browser.


UPDATED January 13th, 2021

The U.S. Small Business Administration, in consultation with the Treasury Department, announced on January 8, that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. Leader Bank, N.A. is designated by the FDIC as a Minority depository institutions, which promotes the economic viability of minority and under-served communities. Leader Bank, N.A. is designated by the FDIC as a Minority Depository Institution, which promotes the economic viability of minority and under-served communities, and will offer early access on our PPP website to First and Second Draw Loans starting Wednesday, January 13.

  • PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
  • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations;
  • The PPP provides greater flexibility for seasonal employees;
  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
  • A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

Updated Guidance & Resources


What do I need to apply?


A Word From our CEO.

Dear Business Owner:

Thank you for visiting Leader Bank’s COVID-19 SBA relief website. We know that every business has been significantly impacted by this crisis. As a small business owner who founded Leader Bank in 2002 to provide high quality community banking services to our local cities and towns, I understand the challenges our business customers are facing due to the economic uncertainty caused by the COVID-19 pandemic. As an SBA Preferred Lender, Leader Bank, N.A. is proud to participate in the Paycheck Protection Program to help provide small businesses obtain the funding they need to support their employees during these difficult times. Our dedicated commercial lenders and local analysts and underwriters understand the needs of our local businesses, and will work diligently to respond to your needs.


We look forward to working with you and help process your application for a Paycheck Protection Program loan with the SBA.

Sushil K. Tuli, CEO



PPP Resources


Have any questions?

Any of our SBA professionals would love to speak with you about your lending needs. Call or email today - we are happy to answer your questions whether you need a loan from us right now or are just looking for advice for the future.

Contact Us

SBARelief@leaderbank.com

781-646-3900

By Mail

180 Massachusetts Ave, Arlington, MA 02474

Our Small Business Lending Team

Patrick Daaboul

SBA ADMINISTRATOR

Sandeep Jain

COMMERCIAL LOAN OFFICER

Kevin McSweeney

COMMERCIAL LOAN OFFICER

#1


SBA Lender in MA among banks with less than $10 billion in assets.

290


Number of loans closed since the 2015 SBA fiscal year providing more than $30M in capital.

#1


Lender to veteran-owned businesses in 2018.


We are a Small Business Administration Preferred Lender.