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Bank offers online COVID-19 PPP loans to Oklahoma businesses

The Shawnee News-Star

BancFirst offers Oklahoma businesses an easy way to apply for the new Paycheck Protection Program loans online at bancfirst.bank.

There are two loan types under the new program: First Draw Loans for businesses that are applying for PPP funds for the first time, and Second Draw Loans for customers who received a PPP loan in 2020.

“We are pleased that more PPP funds have been made available for small business owners,” said Casey Bell, president of BancFirst – Pottawatomie County. “These funds, as we know, are a virtual lifeline and have preserved hundreds of thousands of jobs in our state. We make it easy to apply for these loans at our website, bancfirst.bank.”

The latest PPP funding round comes after the initial program, part of the CARES Act passed in March, ran its course in August. The new round sets aside $285 billion for the nation’s small business owners in desperate need of relief funds. Loans can be issued to qualified first-time PPP applicants. Small business owners who already received PPP funds are eligible for a second draw if they are able to show a decrease of 25% in revenue this year.