Paycheck Protection Program
Paycheck Protection Program


Our customers are at the center of everything we do. We know that many of you are navigating unprecedented challenges and we’re committed to helping you get through this. We want to assure you that we are doing all we can to best serve the thousands of customers who have applied for assistance through our platform. If you applied for a PPP loan, please monitor your inbox for further communication regarding your application status.

At this time, our PPP processing platform is now closed. We are working diligently to process loan inquiries for the significant number of customers that we have received so far. Dependent upon the demand for this new round of funding, we may reopen the platform periodically. Submission of an application to our PPP platform is not a guaranty of a loan under PPP as, in addition to other factors, the funding could run out before all applications are processed. We will continue to update this page with more information as necessary.

Thank you for placing your trust in Wintrust as your community bank.


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 and benefits, interest payments on mortgages, rent payments, health insurance, and utility payments.
  • 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.
  • A portion of the loan can be forgiven. Subject to certain restrictions, the portion of the loan eligible for forgiveness can include payments made during the eight-week period following your loan funding.
  • 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.

What you can do now

  • If you’ve already had to reduce your workforce due to COVID-19, determine if you would like to rehire them. They will be covered.
  • Complete your application and collect all required supporting documentation as outlined below.
  • Download and complete the SBA Paycheck Protection Program Borrower Application Form (SBA Form 2483) application here.
  • Collect the documentation that you will need:

    • For small businesses:
      • 2019 payroll information including;
        • IRS Form 941 for all four quarters of your 2019 payroll
        • Health insurance premium information for 2019
        • State & Local Payroll Taxes for 2019 assessed on the compensation of employees
        • Retirement Plan contributions made in 2019

    • For independent contractors (1099 Employee):
      • All 1099-MISC’s from 2019 (downloaded as one document if there are multiple 1099’s)
    • For sole proprietors:
      • 2019 Personal Federal Tax Return, signed including all schedules (including Schedule C)
        • If you haven’t yet filed your 2019 tax return, an accounting software prepared 12 month profit and loss statement ending 12/31/19 is acceptable.
      • For seasonal businesses, an accounting software prepared 5 month profit and loss statement beginning 2/1/19 through 6/30/19 will also be required in your documentation.
    • For all:
      • Payroll Worksheet Calculator (OPTIONAL) 
      • Your Wintrust Community Bank Business Checking Account (DDA) number and Loan Account number if applicable. 

  • Please note, the government funds in this program are limited and demand for them is extremely high, incomplete applications will not be processed.

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 4/21/20