We are here for our customers, even during times of uncertainty.

For all our customers, please know your Woodforest family is here and ready to help, dedicated to serving your business during this unprecedented time.

Under recent legislation, eligible businesses who did not receive a PPP loan can apply for a First Draw PPP loan. In addition, eligible businesses that previously received PPP funds can apply for a Second Draw PPP loan.

ONLINE APPLICATION NOW OPEN

Eligible businesses(1) may submit an online application for a First or Second Draw PPP Loan. No paper applications will be accepted in person or by email.


The current PPP program expires on May 31, 2021. Woodforest is processing applications promptly but has a current backlog. The SBA must approve all PPP loans and there can be a lengthy turnaround time for that process to be completed as well. For those reasons, we cannot guarantee loans applied for on time will be submitted to or approved by the SBA by the May 31 deadline.

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Review Reference Materials

Download the applicable quick reference guide and review the step-by-step system instructions for customers and non-customers(1).

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Complete Online Application

Provide the required information and upload supporting documentation.

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Review and Submittal Process

Woodforest will review your application and may reach out by email or phone to get clarification and gather additional documentation. Monitor your email and check junk or spam folders for system-generated emails coming from @woodforest.com, @docusign.net, or @expressbankloan.com.


Once complete, Woodforest will submit your application to the SBA and will notify you of next steps when we have received the SBA's decision. NOTE: The SBA will be accepting PPP loan applications from large bank lenders such as Woodforest starting January 19, 2021 and has indicated PPP loan decisioning may generally take 24 to 72 hours.

Update 3/25/2021

Important!

Congress has passed an extension to the PPP Program. The PPP program now expires on May 31, 2021. Woodforest is processing applications promptly but has a current backlog. The SBA must approve all PPP loans and there can be a lengthy turnaround time for that process to be completed as well. For those reasons, we cannot guarantee loans applied for on time will be submitted to or approved by the SBA by the May 31 deadline.


If you have already submitted your application, please check your email as we may request additional required information before we can submit your application to the SBA.


Call us (toll-free) at (800) 685-6783 for questions or assistance.


Eligibility criteria for PPP loans has been changed to allow additional small businesses to apply. Learn more

Useful Links


Additional Information

The following program information applies to many borrowers, but there are exceptions. For full program details, visit SBA.gov and Treasury.gov.(2)

In general, eligible businesses who did not receive previous PPP funds may apply for a First Draw PPP loan. While exceptions apply, borrowers who employ no more than 500 employees per physical location and have been in operation as of February 15, 2020 can apply for a First Draw loan. In general, eligible businesses may borrow up to 2.5 times average monthly payroll costs, up to a $10 million loan maximum.(3) For more information visit First Draw PPP Loans (sba.gov).

Eligible businesses can apply for a Second Draw PPP loan if they have already received a PPP Loan and have used (or will use) the full amount of that PPP loan on authorized uses before the expected disbursement date of a Second Draw loan. While exceptions apply, borrowers can employ no more than 300 employees per physical location and may borrow up to 2.5 times average monthly payroll costs, up to a $2 million loan maximum.(3) For more information visit Second Draw PPP Loans (sba.gov).

  • Accommodations and Food Services companies (NAICS code beginning 72) may borrow up to 3.5 times average monthly payroll costs, up to a $2 million loan maximum.
  • All businesses applying for a Second Draw loan must provide evidence that their business revenue declined by at least 25% in any quarter in 2020 compared to the same quarter in 2019.
  • Businesses can apply for a Second Draw loan whether they have received forgiveness on a First Draw loan.

(1) If you are not a current Woodforest business customer, to be considered for a PPP loan, you will be required to upload documentation/supporting evidence pertaining to you and your business entity such as: Assumed Name Certificate, Taxpayer Identification information (for applicant and/or beneficial owners); Driver's License/State ID card and Social Security cards for each owner; Certificate of Filing and Articles of Organization or Certificate of Formation.

(2) The material on our website has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, legal advice. We encourage you to consult your advisors before engaging in any transaction.

(3) Woodforest requires a minimum loan amount of $500.

Woodforest National Bank

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