Paycheck Protection Program (PPP) Resource Page
While Axos Bank is no longer accepting applications for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), we are assisting businesses by providing important information to those that have applied.
If You Submitted a PPP Application That Has Not Yet Been Approved
Please continue to check your email for communications from Axos Bank regarding your PPP loan application.
If You Submitted a PPP Application That Has Been Funded
Congratulations! As a reminder, Axos Bank has developed an online portal where you will be able to request reimbursement or disbursement of your funds. Access the portal to submit your disbursement request.
Your disbursement request will be reviewed. Once it is approved, the requested funds will be moved to your unrestricted Basic Business Checking account.
Manage Your PPP Funds With Your Basic Business Checking Account
Once the proceeds of your PPP loan have been disbursed to your new small business bank account, you’ll need to manage your funds in online banking. “Getting Started with Your New Small Business Account” outlines everything you’ll need to know in order get the most out of your Basic Business Checking account, including how to register for online banking (Step 1), set up Bill Pay (Step 5), and more.
If you’ve already registered for online banking, you can log in to access your funds.
PPP Loan Forgiveness
Business owners who receive a PPP loan and who use the proceeds for payroll and other eligible expenses may be able to have some or all of their loan forgiven. To learn more about approvable expenses and eligibility criteria for PPP loan forgiveness, refer to "What amounts shall be eligible for forgiveness?" (Section III.1.f.) of the Interim Final Rule provided by the Small Business Administration (SBA). Please keep in mind not all expenses are eligible for loan forgiveness.
Important information about the PPP is available on the SBA website. The SBA and the Department of the Treasury have published PPP FAQs that are updated frequently, and we recommend all current and prospective applicants refer to them periodically.
If you have any questions regarding your PPP loan with Axos Bank, you can reach a specialist at (888) 965-1106.