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Paycheck Protection Program (PPP)

Serving Those Who Serve

Paycheck Protection Program (PPP)

Thank you for your interest in the Fort Hood National Bank Paycheck Protection Program. As of June 4, 2020, at 8:00 p.m. CST, Fort Hood National Bank is no longer accepting new PPP applications.

If you have a pending application, pursuant to the Small Business Administration guidelines, Fort Hood National Bank processes complete customer applications in a “First Come, First Serve” manner. Applicant and/or its owners must have an active account relationship with Fort Hood National Bank as of April 10, 2020. Applications are considered “complete” upon receipt of all documents needed for underwriting. Per Program guidelines, only fully underwritten applications will be submitted for funding authorization. Submission of an application under the program is not a promise to fund and the Small Business Administration may cease accepting applications prior to submission by the lender due to an exhaustion of Program funds.

If you have questions about your PPP loan, please send an email to

Program Overview

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $349 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. The Paycheck Protection Program may be available through June 30, 2020.

For more information, see the Frequently Asked Question and Disclosures section of this page, or see the U.S. Chamber of Commerce’s checklist and guide.

Additional Information

Who Can Apply

This program is available to most small business with less than 500 employees (including sole-proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.

Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible, some limitations apply.

Sole Proprietorships and Self-Employed Individuals that file a Schedule C will be required to provide a 2019 Schedule C, even if 2019 taxes are not complete.

Note: While small businesses cannot include 1099 contractors in their payroll calculations, 1099 Independent Contractors and Self-Employed individuals are eligible to apply individually.

Documents Needed to Apply

  • All employee wage forms in order to calculate total wages, tips, and other compensation for the applicable payroll period.
  • All payroll tax filings (e.g., IRS Form 941 or IRS Form 944; year-end payroll statement from the applicant’s payroll provider or IRS Form W-2 for each employee, etc.).
    • If the applicant is a sole proprietorship, provide all expenses.
  • Copy of filed 2019 tax return, or if the applicant has not filed the 2019 tax return, a copy of unaudited year-end financial statements certified by an authorized officer of the applicant.
  • Were any of the applicant’s employees, including the owner(s), paid a gross salary of more than $100,000 for the period?  If so, indicate the amount of employees and their salaries.
  • Documents showing the payments for each of the following during the applicable payroll period:
    • Retirement benefit payments;
    • Group healthcare benefit payments;
    • State or local payroll taxes; and
    • Payment for vacation, parental, family, medical or sick leave.
  • Did the applicant make any payments to foreign nationals?  If so, indicate the amount of foreign nationals and their payments or salaries.

Frequently Asked Questions about PPP

How do I calculate the “Average Monthly Payroll” on the application?

  • Current Businesses: Average monthly payroll for 2019, excluding costs over $100,000 annualized basis for each employee.
  • Seasonal Businesses: Average monthly payroll for the time period between February 15, 2019 and June 30, 2019, excluding costs over $100,000 annualized basis for each employee.
  • New Businesses: Average monthly payroll to be calculated from January 1, 2020 to February 29, 2020, excluding costs over $100,000 annualized basis for each employee.

I have submitted my application – what should I do now?

  • Current bank customers should consider opening a new DDA for the PPP loan proceeds. This will ensure proper documentation for possible future loan forgiveness and expedite loan funding.
  • New bank customers should collect business entity documentation (state filings, EIN, and operating agreement/bylaws, if applicable) and driver’s license information. It is recommended to have the bank create a DDA specifically for the PPP loan proceeds. This will aid in proper documentation for possible future forgiveness and expedite loan funding.
  • Consider applying for the SBA’s Economic Injury Disaster Loan (EIDL) – see below for more information.

Disclosures and Acknowledgements

  • Amounts forgiven will be reduced proportionally by any reduction in employees retained compared to the prior year and reduced by the reduction in total salary or wages of any employee in excess of 25% of their prior year total salary or wages.  
  • Borrowers who re-hire workers previously laid off will not be penalized for having a reduced payroll at the beginning of the period. 
  • These funds can also be used for: group healthcare benefits, paid sick or medical leave, insurance premiums, and interest on any other debt obligations incurred prior to February 15, 2020. 
  • I understand that I must provide payroll documentation to the lender so that they may verify the PPP loan amount. The lender will calculate the eligible loan amount using the documents I have submitted.
  • I understand that loan forgiveness will only be provided with documentation of future payroll expenses, and that I must meet all eligibility requirements as defined by the SBA’s PPP program.

Economic Injury Disaster Loan (EIDL)

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are also currently eligible to apply for a direct loan with the SBA. Click here to apply for assistance.

Enhanced Debt Relief is also available in SBA’s other business loan programs to help small businesses overcome the challenges created by this health crisis.

For information on additional SBA lending options, please click here.