Leader Bank is a Preferred Lender of the Small Business Administration (SBA). We can provide Paycheck Protection loans to businesses. Let us help you today!
Updated May 29, 2021
Leader Bank, N.A. is a preferred SBA lender, and has been participating in the program since its inception. As a Minority Depository Institution (MDI), we proudly continued processing PPP applications for Women, Veteran, and Minority owned businesses for several weeks after the general fund was exhausted. The program was sunset by the SBA on Friday May 28.
If you already submitted a completed loan request, our team is still reviewing applications and will be in touch if more information is needed.
If you applied for PPP with SmartBiz Loans, please direct all of your questions to firstname.lastname@example.org as they will be able to assist you with your questions. While Leader Bank is listed as the lender of your PPP loan, the approval and underwriting process rests entirely with SmartBiz.
Updated March 5, 2021
SBA published a new Interim Final Rule effective March 5, 2021 allowing individuals who file an IRS Form 1040 Schedule C to use gross income (line 7) to calculate their maximum PPP loan amount. New application forms were consequently released, see the What do I need to apply section below to download the latest version.
If you applied for a PPP loan with Leader Bank, N.A. using Schedule C income, and received your funds before March 4, 2021, we will not be able to cancel your application in order to apply for a higher amount.
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.
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
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.