Alternate Lenders

As the second round of SBA funding becomes available, some small business owners who were not funded during the first round may be considering submitting applications to alternate lenders. has compiled a list of participating lenders. We combed through the list and pulled out those lenders who work in New York State and who appear to be accepting PPP applications from non-customers. This partial list is intended to speed your review process if you decide to seek an alternate lender. This is not intended to be an endorsement, recommendation or financial advice. We strongly recommend that you do your own research and seek counsel before making a decision.

According to, the below lenders either do business with current depositors and non-depositors alike, or it is not clear whether this is the case, hence they might be willing to lend to non-depositor.

1. Customers Bank**

Customers Bank is accepting PPP loan applications from both existing customers and non-customers nationally. Its application process is fully online. The Pennsylvania-based community bank has branches in Pennsylvania, New York, Rhode Island, Massachusetts, New Hampshire, New Jersey, Illinois and Washington, D.C. You can find more information and start the application process here.

2. East West Bank*

With headquarters in Southern California, East West Bank operates more than 125 locations worldwide, including in California, Georgia, Massachusetts, Nevada, New York, Texas and Washington. It has halted accepting new applications until the next round of PPP funding is approved. Its website is not clear on whether it will accept applications from new customers (it previously said it may once it processes applications from current customers). For more information and updates, check here.

3. Five Star Bank 

Five Star Bank is accepting online applications now. To qualify, you must have a Five Star Bank business checking account. If you don’t have an account, you can open one by setting up an appointment at one of its 50 branches across the country. The Warsaw, New York-based bank is requesting that customers not send or bring documents to their branch or business banking relationship manager unless requested. Here is its update page.

4. Hana Small Business Lending*

Hana Small Business Lending has headquarters in Los Angeles and a branch in New York. Though it is a nationwide SBA 7(a) lender with Preferred Lender status, the company does not say whether it is accepting PPP loan applications. If you want to ask, here is the company’s contact page.

5. Intuit QuickBooks**

Like PayPal and Square, Intuit QuickBooks is a newly SBA-authorized lender. The accounting software company is recommending that business owners submit their PPP loan applications in the event that the SBA program receives more funding. It is currently accepting applications from Payroll customers, but expects to accept them from new customers soon. Get more information here.

6. KeyBank*

As a top-10 SBA lender, KeyBank serves a large swath of the country: 25 states plus Washington DC. It says on its website that it is not accepting new applications until the PPP program receives more funding. It does not mention requiring applicants to be existing customers. For updates, go here.

7. Metro City Bank**

Based in Doraville, Georgia, Metro City Bank has stopped accepting new PPP loan applications until more funds are available. It was not restricting applicants to existing customers. That said, the Korean-American bank with branches in Georgia, Alabama, Virginia, New Jersey, New York and Texas, cautions on its website that it may not be able to process and fund all applications. For updates, go here.

8. NewBank*

With two branches in New York and three in New Jersey, NewBank has won the Pinnacle award from the SBA for six consecutive years. Still, the Korean-American community bank does not have information on its website about whether it is participating in PPP. If you’d like to call the bank to ask, the number is (718) 353.8100. Alternately, you can send a message through its website.

9. Newtek Small Business Finance**

Newtek is currently taking applications in anticipation of the PPP getting another round of funding. To begin the process, you’ll have to sign up here. You’ll be notified via email when a specialist is assigned to you and how to contact them. You’ll also be given directions about certain forms and documents. The business solutions company urges applicants to be patient.

10. Patriot Bank*

Based in Stamford, Connecticut, Patriot Bank is a community and commercial bank. It serves Connecticut and New York. The bank has a coronavirus update page on its site, but does not specifically mention the PPP. Instead, it says for customers financially affected by the pandemic to call (888) 728-7468 to discuss their needs.

11. Paychex


Paychex has joined forces with Biz2Credit, Fundera, and Lendio to provide clients with access to a ready network of approved lenders to get the loan process underway quickly, when new funds become available.

12. PayPal**

The online payment service has received approval from the SBA to provide PPP loans. It is currently accepting new applications in anticipation of the SBA program receiving more funding. To learn more and apply, go here.

13. Square*

The fintech company received approval from the SBA to provide PPP loans right around when the SBA’s funding ran out. Square, which is working in partnership with Celtic Bank, is not accepting applications, but once it is, it will notify its merchants through its dashboard. The company invites businesses that are not yet members to sign up for updates. It says non-members may be eligible to apply for PPP loans. You can find more info and updates here.

14. TD Bank

At this time, TD Bank, with branches in the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida, is not accepting PPP loan applications until the SBA program receives more funding. When the bank was taking applications, it was requiring that applicants have a deposit account at TD Bank, a subsidiary of the Canadian multinational Toronto-Dominion Bank. For updates, go here.

15. The Loan Source**

This non-bank SBA-approved lender is processing PPP loan applications and accepting new ones. The New York company is taking applications from existing and new customers. Check here to begin the application process.

16. U.S. Bank**

The fifth largest bank in the country, U.S. Bank has suspended accepting PPP loan application until the SBA program receives another round of funding. The Minneapolis-based bank was not requiring applicants to be existing customers. That said, it did encourage non-U.S. Bank customers to start with their own banks. For updates, check here.

17. VelocitySBA**

VelocitySBA is one of 14 licensed small business lending companies in the country. With a focus on lending to small businesses, the California company has stopped accepting new PPP loan applications. Check here for updates.

18. Wallis Bank**

Headquartered in Wallis, Texas, Wallis Bank serves California, Georgia and Texas. The community bank was accepting PPP loan applications from Texas, Southern California and Atlanta metro areas, but has stopped since the SBA program ran out of money. Once the bank reopens it application process, you can find the application and document requirements on its website, where you can also find the email address to send applications and any questions to. From the application documents, it appears that the bank is not requiring applicants to be existing customers. That said, the bank does mention the high demand for loans.


*Lenders with one asterisk may accept applications from non-customers (their websites aren’t clear) or say they may in the future.

**Lenders with two asterisks are (or were) welcoming applications from non-customers.


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