Paycheck Protection Program

Flagstar Bank has fully participated 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. We are honored to be part of a program that supports millions of workers across the country. 

The SBA has indicated that funding has been exhausted (May, 2021), therefore we are no longer accepting PPP loan applications.

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.