ALLEGIANCE BANK
COVID-19 RESPONSE

Serving our customers and employees is a privilege, and we will remain open for business.

 

We're committed to continuing to support your banking needs while providing a safe environment. Rest assured that even with the recent escalation of preventative recommendations by the CDC and the State of Texas to contain the coronavirus (COVID-19), banking is deemed an essential activity.

Our bank locations are open for business via our drive-thru facilities, ATMs, night drop drawers and through our online banking features. As always, we are here to serve you.

 

CARES ACT: Paycheck Protection Program (PPP)

Please note that the following information is subject to change as the final version is expected from the U.S. Small Business Administration and the U.S. Department of the Treasury within two weeks.    

About the Paycheck Protection Program

As the Houston region's largest community-based SBA Lender, we are preparing to support the small business community through the CARES Act and its signature loan program, the Paycheck Protection Program (“PPP”). 

The Allegiance Bank SBA Department and Allegiance Bank’s 27 Bank offices in the greater Houston/Beaumont area will assist small businesses in obtaining financing through this program.

The PPP is meant to assist small businesses with support for payroll and other business-related expenses as they deal with the impacts of COVID-19.

Eligibility

Note:  SBA will provide additional guidance 

  • All businesses with up to 500 employees
  • Non-Profit Organizations
  • Churches
  • 501c3 Organizations that do not receive Medicaid
  • Veterans Organizations
  • Tribal Business Concern
  • Sole Proprietorships
  • Independent Contractors
  • Eligible Self-Employed Individuals

Expenses Covered

Note: SBA will provide additional guidance  

  • Payroll expenses
  • Group health insurance benefits, paid sick leave, medical and insurance premiums
  • Mortgage or rent payments
  • Utilities
  • Interest on any other debt obligations incurred before the loan period  

Note Terms

Note: SBA will provide additional guidance

  • SBA fees waived
  • No collateral
  • No personal guarantee
  • If you maintain employment for the covered period, your loan balance will be forgiven
  • Loan amounts not forgiven, can be paid over 10 years with an interest of no more than 4%

Next Steps

Please contact your loan/relationship officer, administrative assistant or bank office staff member and let them know of your interest in the PPP loan. If you are a non-customer and know a loan/relationship officer, please feel free to contact them or call 281-894-3200.

Otherwise, please visit our SBA loan landing page to contact us via online form and we will reply directly to your inquiry.

Additional Resources

Allegiance Bank Account Access

  • Bank Locations: Regular drive-thru, ATM and night drop drawer services are available at all Allegiance locations. If you have a question about how to navigate a specific banking need, please contact us.
  • Online Banking: Have you signed up for online banking yet? Online Banking is available 24/7 to make deposits, transfer funds, make payments and more. You can learn more and sign up here. You can also check out our eBanking support video library.
  • Mobile & Tablet Banking Apps: Allegiance Bank offers mobile and tablet banking services available for Apple or Android devices. View and track your accounts anytime, plus get up-to-the-minute activity for all of your accounts. You can download the applications here. 

External COVID-19 Resources

Allegiance Bank COVID-19 Updates

CARES ACT: Paycheck Protection Program (PPP)

With the signing of the CARES Act (the “Act”) into law on Friday, March 27, we have updated our SBA page to provide information on the SBA Paycheck Protection Program (PPP).

Learn More >

COVID-19 Response Update

Allegiance Bank remains open during the Stay Home, Work Safe Order issued by several counties in the Houston region as financial institutions have been deemed a Critical Infrastructure Sector.

Learn More >

COVID-19 Response Update

As we enter the weekend, we wanted to provide communication on several items related to the coronavirus (COVID-19) pandemic and Allegiance Bank’s response to this ever-changing situation.

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One Thing for Certain

A Note From the Chairman: we are thankful for our customers and the opportunity you have given us to be your bank, especially in times like these.

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COVID-19 Response Update

Allegiance Bank is closely monitoring the coronavirus situation and will be implementing the following changes to our bank office operations, effective March 18, 2020.

Learn More >

Allegiance Bank Coronavirus Response

Allegiance Bank is closely monitoring the coronavirus situation will provide regular communication to handle your banking needs while providing a safe and healthy environment for our bankers, clients, and all we serve.

Learn More >