IDAHO FALLS – As talks of a new stimulus package continue, Bank of Idaho has announced the
opening of a waitlist for Idaho businesses interested in securing funds as part of the second round of
the Paycheck Protection Program (PPP).
Businesses affected by the Coronavirus pandemic could receive a low-interest-rate loan under this
program and can submit their waitlist application at https://www.bankofidaho.com/cares. PPP loans
may be eligible for full or partial forgiveness if the money is used for qualifying costs and depending
on the specific rules of the program. As soon as this program goes live, Bank of Idaho will start
assisting clients on its waitlist.
In the first round of PPP funding, Bank of Idaho secured $96 million for more than 1,000 Idaho
“The PPP is a true lifeline for small- to mid-sized businesses,” said Jeff Newgard, Bank of Idaho
president and CEO. “With the pandemic still in full force, now’s the time for businesses to take steps
to secure their futures. By joining our waitlist now, business owners will be able to submit their
applications as soon as the program goes live. Even if business owners worked with another
institution for Round 1 funding, they can choose any bank they like for Round 2.”
Bank of Idaho has been committed to community – and Idaho businesses – for more than 35 years.
With total assets of $551mm and growing, the Idaho Falls-based bank presently has 10 full-service
branches in operation across southern Idaho. In addition to retail and commercial banking, Bank of
Idaho also offers a full spectrum of trust and investment services, along with mortgage lending. For
more information, please visit https://www.bankofidaho.com/or call (208) 524-5500.