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CARES Act

SBA Paycheck Protection Program

Update 12.31.20 – President Approves COVID-19 Relief Bill, Reauthorizes PPP

As you may have heard, this past week the President signed into law the Coronavirus Response and Relief Supplemental Appropriations Act which will provide for a 2nd round of PPP loans, including existing PPP borrowers.

At this point, we are still awaiting more details and guidance from the SBA. Right now, customers cannot apply for a new PPP loan. We expect the program will commence, and customers will be able to apply for a PPP loan, around mid-January.

Please contact your banker if you have any questions.

We will continue to provide information as it becomes available.

 

SBA PPP Loan Forgiveness Information

 

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