On December 27, 2020, the latest COVID-19 relief bill was signed into law. The bill contains additional funds for PPP loans, and Texas Capital Bank intends to participate in this latest round of PPP funding.
If you are interested in applying for PPP funds, please fill out this form to get on our waiting list.
Please note that due to unknown volume, we cannot guarantee that we’ll be able to service all requests.
How should applicants prepare for forgiveness?
To ensure you’re ready to apply for forgiveness, please review the loan forgiveness application instructions and the appropriate loan forgiveness application, and gather the necessary documentation.
You will not be required to submit a completed form, because Texas Capital Bank will generate your form based on your input in our portal. However, you should be familiar with which form your business will use.
There are currently three forms that can be used to apply for forgiveness. On June 16, the SBA released a revised PPP Loan Forgiveness Application (Form 3508) and an EZ version of the application (Form 3508-EZ). To determine if you qualify for Form 3508-EZ, one of the following statements must be true:
- Are self-employed and have no employees OR
- Didn’t decrease their employees’ wages or salaries by more than 25%, and didn’t reduce their employees’ number or hours OR
- Experienced reductions in business activity due to COVID-19 related health directives and didn’t reduce their employees’ salaries or wages by more than 25%.