If you offer SBA loans, we want to help you be prepared to meet your small business customer’s needs. On April 8, 2020, we will be presenting a live webinar on SBA Payroll Protection Program loans. We’ll walk you through the eligibility, application, underwriting, and compliance steps for these PPP loans.
As a community bank (or a large bank) you pride yourself if the growth and success of your community. In this time of crisis, here is your opportunity to be there for not only your small business customers, but for their employees, “your” customers, your neighbors and the citizens of your community.
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted, an economic relief package in response to the COVID-19 pandemic. The CARES Act expands the eligibility criteria for borrowers to qualify for loans that are available through the U.S. Small Business Administration (SBA) by adding the Paycheck Protection Program (PPP) to the SBA’s loan programs.
The PPP provides federally guaranteed loans to eligible businesses, which can be partially forgiven. The goal is to encourage businesses to retain employees through the COVID-19 crisis by assisting in the payment of certain operational costs.
Click on the video to listen to Jerod explain more.
Other Upcoming Lending Webinars:
March 31st – TRID: Changed Circumstances & Revised Disclosures
April 9th – HMDA Covered Transactions
April 14th – Applicants & Applications
April 14th – Refinance, Modifications & Renewals
April 16th – HMDA Data for Large Filers
April 23rd – HMDA Data for Small Filers