Can I deposit my PPP/SBA loan into my individual or joint Checking account?

We currently only offer personal and joint checking accounts. As such, we are not able to accept PPP loans for your business into your personal or joint checking accounts. If a PPP loan from the Small Business Association or a secondary lending agency is deposited into your account, your checking account may be closed and the funds may be returned to their source. It may also be necessary that documentation be provided to receive those funds.

If this deposit results in checking account closure, any funds held in the account prior to the loan deposit will be sent to your linked bank account or a check will be issued to your mailing address.