Paycheck Protection Program

Flagstar Bank continues our participation in the Paycheck Protection Program

PPP is a federal initiative to help businesses keep their workforce employed during COVID-19. Since the program began in March 2020, we have helped many small businesses and nonprofit organizations secure funding to pay employees and stay current with rent and other payments.

Congress recently approved legislation authorizing an additional $284 billion of PPP funding. We are honored to be part of a program that supports millions of workers across the country. 

Flagstar is participating in this round of PPP. We are now partnering with PPP specialist Loan Source/ACAP. Through their advanced, customer-centric Smart Portal, Loan Source will guide you through the PPP loan process from end to end. Loan Source will submit your completed application to the SBA for approval, fund the loan, and deposit the PPP loan proceeds into your Flagstar Bank business account. 

Visit the Loan Source/ACAP Smart Portal to learn more and to submit your PPP loan application.  

Flagstar is providing additional solutions to support our business and personal banking customers during the pandemic crisis, including deferred loan payments and fee waivers. Visit our COVID-19 readiness webpage for details. 

PPP loan forgiveness

The Small Business Administration (SBA) has provided guidance for how the loan forgiveness portion of PPP will be administered. Visit our PPP loan forgiveness page to learn more.