Are you applying for a PPP loan for the second time with Bangor Savings Bank? Please prepare the following documents and information in preparation for applying using our online portal. 
  • An open Bangor Savings Bank business deposit account required to complete an application
  • Proof your business was in operation on February 15, 2020 by submitting a bank statement, utility bill, etc.
  • Funds from your first PPP loan must be used in full on or before the expected disbursement date of the second PPP loan
  • Your business employs no more than 300 people
  • Your business must have sustained a 25% or more drop in revenue in any quarter of 2020 compared to the same quarter in 2019 or annually 2020 as compared to 2019. (Documentation supporting the revenue reduction must be provided at the time of application.)
  • Your loan amount will be calculated using your average monthly payroll as defined in the PPP Loan Application
  • Organize and scan your payroll records and payroll tax documents (e.g. third party or internal payroll reports, 941 forms, Schedule C or E forms, etc.)
  • To receive 100% loan forgiveness at least 60% of the PPP loan funds must be used for eligible payroll expenses

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Please continue to check this website for additional information. If you have questions or need assistance, please call us at 207-974-2560, email us at business@bangor.com, or contact your lender.