CARES Act Relief Support with UMB
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UMB PPP Platform
PPP Loan Application
PPP Forgiveness Application
PPP Webinars & FAQs
PPP for First-Time Borrowers: UMB Bank Insights with Bryan Cave Leighton Paisner
PPP Round III Funding: Second Draw Webinar – UMB Bank Insights with Bryan Cave Leighton Paisner
PPP Forgiveness Webinar – UMB Bank Insights with Bryan Cave Leighton Paisner
RESOURCES
We are working on new resources to help you navigate the PPP Round III process
Government Agencies
- US Treasury's Website – up-to-date CARES Act program information
- SBA COVID Website – up-to-date information on all SBA COVID Relief programs
- SBA PPP Web Page – up-to-date information on the SBA PPP program
OTHER QUESTIONS
Still need help? Please reach out to your officer, or if you do not have an officer, please email UMBCARESAct@umb.com.
We cannot accept paper or PDF applications.
SBA Forgiveness Application Processing Guidance
Once you have completed the application in the system, UMB is committed to processing all applications received within the allowed 60-day period. Once submitted, the SBA then has 90 days to fund the forgiveness amount back to UMB.
- Borrower completes forgiveness application
- Within 60-days after Borrower completes application - UMB will process and submit a recommendation within 60 days of receipt of the application. We will notify you of our recommendation to the SBA.
- Within 90-days after UMB submits recommendation - The SBA has 90 days to process your application and determine your forgiveness eligibility. The SBA has the right to review any loan at any time. We will notify you within 5 days if the SBA reviews your loan and requests additional information. Otherwise, we will notify you when we receive the SBA's final determination of forgiveness.
CARES Act Information
As the COVID-19 (coronavirus) situation evolves, we are here to support our customers and help you financially weather this storm through available programs and relief.
The Coronavirus Aid, Relief and Economic Security (CARES) Act includes U.S. Small Business Administration (SBA) guaranteed loan products to help support companies affected by the COVID-19 virus. The bill also provides benefits to individuals, including direct payments to taxpayers, mortgage assistance, retirement savings access changes and more.
Overview of Business Programs
Please view the SBA website for complete program details and qualifications.
SBA Paycheck Protection Program:
This program aids companies in retaining their workforce and keeping them on the payroll, as well as managing certain other expenses. Eligible businesses are those with 500 or fewer employees and include non-profits, veterans organizations, tribal concerns, sole proprietorships, self-employed individuals, and independent contractors.
SBA Economic Injury Disaster Loans and Loan Advance:
This program is fully managed and processed through the SBA. If you are interested in this program, please connect directly with the SBA.
SBA Express Bridge Loan:
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender (like UMB) to access up to $25,000 with less paperwork. This bridge loan can provide working capital to businesses as they wait for decision and disbursement of the disaster loan funds.
SBA Standard 7(a) Loan Program:
The standard SBA 7(a) Loan Program is still in effect with $18 billion remaining in 2020 budget. A provision in the CARES Act authorizes some relief on existing or new obligations.
Information on the CARES Act Personal Programs
View our blog for more information about these programs or view the CARES Act website.
UMB is here for you
During these difficult times, UMB is here for you. We have been serving clients for more than 107 years and have seen many crises, from the flu epidemic of 1918 to the financial crisis of 2008. And we've helped our customers manage through them all by staying true to our legacy, business strategies and leadership principles. All of this still applies today and to this crisis—we will do what we always have. We'll do what's right and help our clients weather this storm.
UMB's PPP Application Platform will walk you through the application process. You will load all required documentation into the system. The platform will send automatic emails notifying you of requirements, next steps, and reminders. To enable faster review, please ensure your data can be validated within your uploaded documentation. You will also be able to monitor the status of your application in the platform.
What to Expect – the system will walk each Borrower through the application process required by SBA guidance.
Resources – the system is intuitive with FAQs and tips included throughout the process by simply clicking on the Question Mark Icon. You can also access how-to videos and user guides ›
We cannot accept paper or PDF applications.
UMB is busy updating our PPP Application platform to prepare for Round III Funding and updates to the PPP Forgiveness Process. The system is unavailable during these updates. We will open the system once the SBA has provided final rules, guidance, and forms, and our platform, internal processes, and technology is ready to accept applications.
Paycheck Protection Program
As of May 4, 2021, the SBA exhausted Paycheck Protection Program funds, meaning they will not accept any more loan applications. We will update this site if more funds become available.
Once you have completed the application in the system, UMB is committed to processing all applications received within the allowed 60-day period. Once submitted, the SBA then has 90 days to fund the forgiveness amount back to UMB.
- Borrower completes forgiveness application
- Within 60-days after Borrower completes application - UMB will process and submit a recommendation within 60 days of receipt of the application. We will notify you of our recommendation to the SBA.
- Within 90-days after UMB submits recommendation - The SBA has 90 days to process your application and determine your forgiveness eligibility. The SBA has the right to review any loan at any time. We will notify you within 5 days if the SBA reviews your loan and requests additional information. Otherwise, we will notify you when we receive the SBA's final determination of forgiveness.
To start your application, please have the following information:
- Business TIN (EIN or SSN)
- Authorized Representative Email Address
- Authorized Representative Personal SSN