SBA Paycheck Protection Program

01/14/2021--- First Bank & Trust Company is proud to have assisted over 2,600 businesses as part of the initial rollout of the Paycheck Protection Program. We continue to provide support by accepting Second Draw and First Draw PPP applications. Please contact your local office for additional information.

 

About the CARES Act

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) (Pub. L. 116-136) to provide emergency assistance and health care response for individuals, families, and businesses affected by the coronavirus pandemic. The Small Business Administration (SBA) received funding and authority through the CARES Act to modify existing loan programs and establish a new loan program to assist small businesses nationwide adversely impacted by the COVID-19 emergency.

The CARES Act was enacted to provide immediate assistance to individuals, families, and organizations affected by the COVID-19 emergency. Among the provisions contained in the CARES Act are provisions authorizing SBA to temporarily guarantee loans under the Paycheck Protection Program (PPP).

 

For more information, visit the SBA site.

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