SBA PAYCHECK PROTECTION PROGRAM
The Care Act has been implemented and is effective April 3, 2020 through June 30, 2020.
Section 1106 of the Act provides for forgiveness of up to the full principal
amount of qualifying loans guaranteed under the Paycheck Protection Program. The
Paycheck Protection Program and loan forgiveness are intended to provide economic
relief to small businesses nationwide adversely impacted under the Coronavirus Disease
2019 (COVID-19) Emergency Declaration (COVID-19 Emergency Declaration) issued
by President Trump on March 13, 2020.
Attached below is the application for small businesses to complete and return to your local branch. See the Facts Sheet to determine if you qualify.
You will also need to provide 2019 Tax return showing payroll expenses for 2019, or IRS Form 941 or 940.
If you are a new customer to the bank we will need Corporate Resolution, copy of photo Id(s)
Please see attached regulation requirements, or visit the sba.gov website for more information.
These requirements are subject to change as the SBA guidelines do.
Current as of 4/3/2020