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Partnering Through COVID-19

On January 8th the U.S. Small Business Authority (SBA) along with the Treasury Department, announced that the Paycheck Protection Program would re-open the week of January 11th for new borrowers and opportunities for existing PPP borrowers. The SBA announced that it would take a number of steps to ensure increased access to the PPP for minority, underserved, veteran, and women-owned businesses.

This new round of funding initially authorized up to $284 billion toward job retention and certain other expenses through loan originations until, March 31, 2021, and allow certain existing PPP borrowers to apply for a “Second Draw” PPP loan, as well as providing PPP funding for new applicants who meet SBA and HSBC eligibility criteria. In March 2021, the program termination date was extended to May 31, 2021 for the submission of new loan applications, and, extended the SBA’s internal processing date for an additional 30 days.

HSBC is dedicated to supporting you at every step of the PPP program. We are accepting new PPP loan applications for our existing business customers who already process payroll through us until 5 P.M. ET May 24, 2021, subject to ongoing program funds availability. We are also working with our customers to adjust existing loan forgiveness applications. Finally, if you meet the government criteria and are interested in the second draw of PPP funding, you may be eligible through HSBC if your existing PPP loan is currently with us. We are accepting new ‘Second Draw’ PPP loan applications until 5 P.M. ET May 24, 2021, subject to ongoing program funds availability.

The new legislation and information from the SBA continues to evolve. Please review our PPP FAQs and continue to check back for updates. If you have questions about our PPP loan application or loan forgiveness process the links and FAQs on the next tab will be a helpful resource.

We appreciate your patience as we navigate this challenging time together.

In the first round of PPP we had:

100,000+

employees’ payroll supported by HSBC

$1.35bn

in loans approved

100%

of eligible applicants received PPP loans

Client Testimonials

“Thank you for this prompt notification of the PPP application approval, these funds will literally be a lifesaver for me and my team.”

“I want to express my deep gratitude to you for getting our loan through your system. When we needed you most, you were there for us. Your personal actions on our behalf have literally saved my business and the jobs of my employees. That is not overstating the case.”

“We really appreciate the 25+ year relationship with HSBC and the support you have given us along the way. HSBC remains the only bank we will be working with for future banking needs.”

“Thank you for your hard work and getting this done! I know many of the people working for HSBC have been working around the clock and it is truly appreciated! I was literally writing everyone’s last paycheck when I received this and I now get to tell them to stay working!”

“THANK YOU! This is great news and will help us continue paying our employees during this time.”

“I want to express my gratitude for the guidance that you provided during the process of obtaining a PPP loan this past week. The level of service that you offered was superb and the concern that you showed for the proper execution of the documents was stabilizing in an unsettling time.”

Find out more about Partnering Through COVID-19

PPP Frequently Asked Questions


Digital Banking Solutions


Client Spotlight


Coronavirus Webinars & Articles


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