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PLEASE READ: Important update for borrowers – January 1, 2021

Many small businesses have been significantly impacted as a result of the COVID-19 outbreak. We understand just how important it is to take care of your employees, as well as your company, during this difficult time. Below are loan options and other resources to assist our business members.

The Paycheck Protection Program Loan

This loan for businesses impacted by COVID-19-related events is intended to cover monthly payroll costs (including healthcare plans), rent, mortgage interest, interest on other existing debt, and utility payments.


Desert Financial intends to participate in the next round of PPP funding. We will be offering PPP funding to our current business members only. Official program details have not been released at this point; we will be communicating with existing business members as more information becomes available. In the meantime, business members interested in applying may want to gather relevant documents, including P&L (profit and loss) statements for each quarter of 2020 and 2019, in preparation.

Existing Borrowers

A second PPP loan may be available for existing borrowers. Loan qualifiers are as follows:

  • PPP proceeds from earlier round must have been (or will be) fully utilized for authorized purposes only
  • Borrower must show at least a 25% reduction in gross revenue between comparable quarters in 2019 and 2020
  • Borrower’s company can have no more than 300 employees

Please contact the banking representative that assisted you in obtaining your first PPP loan for more information — they will be able to provide updates as additional details about the program are released.

First-Time PPP Borrowers

Please complete the form below if you are a first-time PPP borrower (and an existing business member) and would like to learn more once information has been shared. Desert Financial will accommodate new requests as quickly as possible. Please note this is not an application — the loan application process will begin once the Small Business Administration releases more information.


PPP Loan Details

Designed to help companies with 300 or fewer employees, the Paycheck Protection loan1 was created as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act.

Program benefits include:

  • Low interest rate
  • Borrow up to $2 million
  • 100% federally guaranteed
  • No collateral or personal guarantees required
  • No payments due for at least 6 months
  • Opportunities for partial or full forgiveness of the loan principal

Eligibility requirements include:

  • You must have an existing Desert Financial business account.
  • You must confirm that your business needs financial relief due to COVID-19-related events and use the funds to maintain your workforce and operational needs.
  • Available to companies with 300 employees or less, sole proprietorships, 501 (c)(3) nonprofit organizations, 501 (c)(19) veterans’ organizations, and eligible Tribal businesses.

Other Resources for Small Businesses

Small Business Administration (SBA) Assistance

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

1All loans subject to credit approval and program eligibility under the SBA. Restrictions may apply.