Important Update: July 31, 2020

Allegiance Bank wants to provide you with the most current information available regarding the SBA Paycheck Protection Program (PPP) process. The PPP will expire on August 8, 2020, or upon exhaustion of appropriated funds, whichever comes first. To allow adequate time to process the applications prior to the August 8 expiration, Allegiance Bank is unable to accept applications received after July 31, 2020. In the event the August 8 expiration date for PPP is extended, we will provide an update on our website.


PPP Forgiveness Update: July 20, 2020


If your PPP loan was more than $150,000 and it has been more than 8 weeks since the funding of your loan, you should have received an email (since the earliest covered period to request forgiveness is 8 weeks after receiving your PPP loan you will only receive this email once your loan reaches 8 weeks from the original funding date).


We have delayed sending the email to access the online platform for those of you with a PPP loan of $150,000 or less in anticipation of further program changes. However, should you wish to proceed with the current forgiveness application, please contact your banker and he or she will provide you with access to the online platform.


SBA PPP Resources

  • PPP Webinars: The SBA’s Houston District Office is hosting a series of PPP overview webinars. Additional information including webinar links can be found on the SBA Houston District Office website here.
  • PPP FAQ: Access the latest SBA PPP FAQ document for lenders and borrowers here.
  • Interim Final Rule: Access the Department of the Treasury’s Program Rules here.
  • PPP 3508S Application: Access the Paycheck Protection Program 3508S Forgiveness Application ($50,000 and less) here.
  • PPP 3508S Instructions: Access the instructions for the Paycheck Protection Program 3508S Forgiveness Application ($50,000 and less) here.


Please note: Allegiance Bank has received reports of a non-government website attempting to impersonate the SBA website. Always exercise caution by verifying that you have navigated to the correct website URL (i.e. Additional information can be found on the Department of Homeland Security website here.

CARES ACT: Paycheck Protection Program (PPP)

Please note that the following information is subject to change per the U.S. Small Business Administration and the U.S. Department of the Treasury.    

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 28 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.


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 

  • 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 2 years with an interest rate of 1.00%


Allegiance Bank SBA Lending

Retain more working capital and improve the cash flow of your small business.

Allegiance Bank provides SBA loans through a partnership with the U.S. Small Business Administration’s 7(a), 504 and Express loan programs. These loans typically provide the business owner with financing terms not available elsewhere under conventional loan guidelines. SBA loans offer the borrower a lower equity injection (as low as 10%) and longer payment terms (up to 25 years – depending on the use of proceeds). These benefits allow the small business owner to retain more working capital and improve the cash flow of the business.

SBA loans can be used for the following:

  • Purchase, expansion or construction of an owner-occupied building
  • Equipment purchases
  • Business acquisitions
  • Partner buyouts
  • Expansion of a successful franchise to additional locations

Allegiance Bank’s SBA Lending Team has over 75 years combined experience in SBA Lending. All loan decisions and loan closings are local, which improves the SBA loan process.

In addition, Allegiance Bank SBA supports lending to Veteran business owners. Contact our SBA Department about our "Veterans Pledge Program."


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