Paycheck Protection Program (PPP)
Due to high volume, we are not currently taking new applications for the Paycheck Protection Program with the U.S. Small Business Administration. Please check back again later. Thank you for your patience.
If you have already applied for a PPP loan with us, CLICK HERE to log back in and upload your supporting documents.
Should you have any questions, please email us at [email protected] or call us at 808-544-6865.
ABOUT THE PROGRAM
As part of the CARES act, the Federal Government authorized aid toward job retention and certain other expenses.
The Paycheck Protection Program (PPP) was created to provide rapid funding to small businesses in the form of a forgivable loan.
All loans have the same terms regardless of which lender chosen:
- No Collateral or Personal Guarantee
- No Fees
- 1.00% Interest Rate
- Loans are Fully Forgiven*
- No Payments for 6 Months
*Loan amounts will be forgiven as long as:
- The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and
- Employee and compensation levels are maintained.
For more information:
The information presented herein is to highlight certain features of the PPP loan program, and is not intended to be nor should be taken as a complete description of the PPP loan program. Because the PPP rules are set by the federal government and are subject to change by the federal government at any time, Central Pacific Bank (“Bank”) shall not be liable or responsible in any way for the information provided herein and shall have no obligation to keep this information current or updated on this website if and when the federal government changes or makes additional PPP rules. In addition, Bank is not via any communication on its website rendering any legal, tax, accounting, business or other advice to PPP applicants/borrowers and any reliance thereon is at that party’s own risk. PPP applicants/borrowers are strongly encouraged to consult their legal counsel, accountant, and other professional advisors regarding the PPP rules. PPP applicants/borrowers are also strongly encouraged to monitor the federal government’s Treasury and SBA PPP websites for more detailed and complete information and updates to their rules.