Paycheck Protection Program -- SBA Loans Available for Businesses Maintaining Their Payroll
Article By: Becky Seelen, Director of Marketing & Corporate Communications for SFB
An important provision in the Coronavirus Aid, Relief and Economic Security (Act) is the Paycheck Protection Program, which allocates almost $350 billion to support emergency loans to qualifying businesses. This program, which is administered by the Small Business Administration (SBA), provides emergency lending to help small businesses cover operating expenses such as payroll, rent, and utilities. Portions of the loans may be forgiven if a business satisfies certain conditions, such as maintaining their payroll during the crisis or restoring their payroll afterward.
- More Information on the Program Can Be Found HERE.
- Application Can Be Found HERE.
- Contact an SFB Lender for Assistance
If you are in need of resources to help your business during this COVID-19 pandemic, please contact one of our lenders to help guide you through this program. SFB is an SBA-preferred lender.
Matt Schley • 715.568.6325