We understand that many of our customers are experiencing a financial strain due to the COVID-19 pandemic. Under the CARES Act recently enacted into law, small businesses have another financial assistance option. The Small Business Administration
has been directed to fund new loans to small businesses that will be partially or fully forgivable if proceeds are spent on qualifying expenses. The loans are offered and administered by banks participating in the SBA program. These special loans are available to qualifying small businesses until June 30, 2020.
We have summarized highlights of the SBA loan program here for you.