Paycheck Protection Program Loans - First Draw Program (PPP)
A COVID-19 disaster relief program designed to give existing PPP borrowers additional funds
With the Paycheck Protection Program (PPP), small businesses can borrow funds for COVID-19 relief to use for payroll, rent payments and more. Here are some helpful answers to the most common questions we receive on this program.This FAQ is for first-time (or “First Draw”) PPP borrowers. If you are looking to take out a second PPP loan, please visit our Second Draw PPP FAQs.
For Non-WSB Customers
If you are currently not a customer of Watertown Savings Bank, we welcome your full banking relationship for businesses located in the Jefferson County area. The following information is required to establish an account relationship:
- A copy of your corporate documentation (DBA Certificate, Operating Arrangements, Corporate Resolutions, etc.).
- You will be required to open a commercial deposit account with Watertown Savings Bank.
- Government Issued Photo ID for all owners with 20% or more interest in the business.