SBA Paycheck Protection Program

The effects of the coronavirus (COVID-19) pandemic have not only dramatically affected the way we lead our personal lives but have also shifted the business landscape creating new and unprecedented challenges. At times like these, businesses like yours may need our support now more than ever, and we want you to know that Popular is here for you.

Your business may be eligible for a Small Business Administration (SBA) program called the Paycheck Protection Program (PPP or Program). This Program is the result of a historic legislation, called the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) designed to help businesses affected by this pandemic. The CARES Act authorized, in a first phase, $349,000 million for this Program.

On Friday April 24, 2020, a second phase of this Program was approved, with an additional assignment of $310,000 million. Remember that there is great interest in the Program, and there are limited funds. We are committed to processing all pending applications that we received during this first round of the Program. As soon as we process those, we will make our best effort to process all applications received for the second round of the Program.

If you are an existing Banco Popular customer, please contact your Relationship Officer or access our guide. If you are not currently a Banco Popular customer, our advice is that you first seek assistance from your existing primary bank where you maintain your business relationship; that will allow for a faster processing time. If this is not an option, know that we are available to assist you, but please consider that the process may require us to take additional regulatory steps (applicable to the onboarding of new customers) that could delay your PPP application.

Rest assured that we are working as quickly and thoroughly as possible to ensure we address all inquiries. However, given the high volume of requests, please be patient while waiting for assistance, as we may not be able to respond with our customary promptness. We understand how challenging these times are for all our customers and the communities we serve and reaffirm our commitment to provide you the excellent service you deserve.

Online Application

If you are interested in requesting assistance from the Program, complete the online application process.

SBA Paycheck Protection Program