UPDATE: July 6th, 2020
New Information Regarding PPP Loan Forgiveness
Paycheck Protection Plan (PPP)
Loan programs details are subject to change as prescribed by the US Department of Treasury and/or SBA.
Looking for more information?
Refer to the following links and information regarding the CARES Act and the Paycheck Protection Program (PPP).
- US Department of Treasury: https://home.treasury.gov/
- US Small Business Administration: https://www.sba.gov
As you will find in the Treasury’s document, PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET: BORROWERS, you will need to provide your lender with payroll documentation in addition to the application.
Additional detail will be provided and additional information may be required based on SBA published regulations for the PPP application process.
Economic Impact Payments (Stimulus Payments)
Economic Injury Disaster Loan (EIDL)
SBA Debt Relief Program
The SBA Debt Relief Program will provide immediate relief to small businesses with non-disaster SBA loans to help overcome the hardships the COVID-19 Pandemic has caused. With this Program, the SBA will automatically pay the principal, interest, and fees of current 7(a) and microloans for a period of six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law. Please contact your Banker if you are a current SBA customer for more details.