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Coronavirus (COVID-19): Business Guidance & Loan Resources


Paycheck Protection Program Loans (1/15/2021)

The Bank is happy to again participate in the (PPP) as we do our part in supporting our business community. The bank is not yet able to process loans for the programs but it is expected to begin processing on Tuesday, January 19, 2021 and end on March 31, 2021. There are two (2) separate and distinct programs broadly outlined below.

First Draw Applications

If a borrower hadn’t participated in the first PPP Program launched last year, you have the opportunity to participate in this program. You will need to provide the following:

  • Complete an SBA Application Form 2483. This form will be made available on this page as soon as Wayne Bank is authorized by the SBA to begin accepting application. We expect this to be Tuesday, January 19, 2021.
  • Financial and Payroll Data required by the SBA per the 2483 application instructions;
  • If you are a new customer to Wayne Bank, you will need to provide Corporate Formation Documents and Government Issued ID and beneficial owner documents;
  • If the loan request is greater than $150,000, you must provide documentation sufficient to demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
  • Under $150,000, you will need to provide this same information at the time of forgiveness;

Second Draw Applications

If a borrower received a PPP Loan through Wayne Bank before, you will have an abbreviated application process.

  • Complete an SBA Application Form 2483-SD. This form will be made available on this page as soon as Wayne Bank is authorized by the SBA to begin accepting application. We expect this to be Tuesday, January 19, 2021.
  • Provide the same documentation as provided in the First Draw Applications as it relates to the over $150,000 documentation;
  • If the borrower is designated with a NAICS Code 72 (typically restaurants and hotels) they are permitted to use a 3.5x multiplier of their average monthly payroll costs in determining the maximum loan amount up to $2 million CAP.

Loan Forgiveness Update

Loans Under $150,000 - In light of the recent news from SBA pertaining to loans under $150,000, we will be streamlining the forgiveness process. We are anticipating the new simplified forgiveness form to be available on January 20th and will notify applicable borrowers of the same. More information will be provided once the form has been launched. The new, simplified forgiveness form will be on this page as soon as we are able based on it being availabale from the SBA

Loans Over $150,000 These Borrowers should continue to use the Cares Compliance Portal.

Accessing the Borrower Portal - Only for Loans Over $150,000

Please use the link below to access the Portal. If you are experiencing difficulty logging into the Borrower Portal, you may e-mail support@carescompliance.com for assistance.


Click for PPP Loan Forgiveness Portal

Wayne Bank is ready and able to assist our customers during these challenging times. For customers with an established relationship, please do not hesitate to reach out to your lender for questions.

Additional Contacts

Call 1-800-598-5002 | Meet our Team of Business Lenders | Find a local Wayne Bank Office | Additional Coronavirus Information