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Paycheck Protection Program
Paycheck Protection Program


If you previously applied for a PPP loan through a Wintrust Community Bank, you may have received your funding. If you have any questions regarding the PPP, please contact your banker. We also encourage you to visit the SBA’s website for current information (click here) on forgiveness and repayment provisions.

Thank you for placing your trust in Wintrust as your community bank. Our customers are at the center of everything we do. We know that many of you are navigating unprecedented challenges and we are committed to helping you get through this.


If you have received a PPP loan, please remember that you made several good faith certifications in your loan application, including that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” The SBA has announced that any borrower that applied for a loan prior to April 24, 2020, and repays the loan in full by May 18, 2020, will be deemed by the SBA to have made the required certification in good faith. Note that the recent extension of this deadline to May 18, 2020 came after the SBA announced that any borrower, together with its affiliates, who received PPP loans with an original principal amount of less than $2 million will be deemed to have made the required certification in good faith.

If you need to arrange repayment, please contact your banker.


About the Paycheck Protection Program

  • The Small Business Administration (SBA) Paycheck Protection Program (PPP) is a federal relief program designed to help small businesses keep their workforce employed during the COVID-19 crisis.
  • The loan can be used for payroll costs, certain interest payments on mortgages, rent payments, and certain utility payments. For more information about these eligible expenses please click here to visit the PPP loan page of the SBA’s website.
  • To qualify, companies and nonprofits must have fewer than 500 total employees, including all affiliates, subsidiaries and companies under common ownership or otherwise be considered a small business concern under the CARES Act and corresponding SBA regulations. Certain exceptions apply for small businesses in the food service sector, religious organizations, franchises and SBIC-financed businesses.
  • All borrowers are required to make several good faith certifications, including that current economic uncertainty makes this PPP loan request necessary to support ongoing business operations.
  • All or a portion of the loan may be eligible for forgiveness. Subject to certain restrictions, the portion of the loan eligible for forgiveness may consist of payments for eligible expenses made during the eight-week period following your loan funding.  For additional information about forgiveness please visit the SBA website referenced above.
  • You can apply for both an Economic Injury Disaster Loan (through the SBA) and a Paycheck Protection Program Loan, but there may be no duplication in the use of funds.
  • The maximum loan amount is 2.5 times your average monthly payroll, up to $10 million.
  • The loan has a fixed interest rate of 1.0%
  • These will be unsecured loans that do not require personal guarantees.
  • You may be able to defer payments up to 6 months.

We would like to remind you that some people are using times like this as an opportunity to take advantage. Please remember that we will never contact you to ask for sensitive information, like online banking IDs, passwords, one-time verification codes, account numbers, or Social Security numbers. Please be on the lookout for scams that are designed to trick you into giving your personal information.


Updated 5/26/20