Paycheck Protection ProgramJust Announced
Paycheck Protection Program
Starting this Friday, 3 April 2020 – SBA will begin accepting applications for Paycheck Protection loans. Union Bank and Trust will be submitting applications for the bank’s existing clients first that have indicated they want to apply and have provided the information to the bank as outlined below.
As of Thursday 2 April, 2020 – Union Bank and Trust will begin to prepare applications for this program. We have many current bank clients interested in this program. We plan on collecting pre-applications as of Thursday, so we are ready to submit applications on Friday, 3 April 2020. Our priority is existing bank clients first and then after they are taken care of new customers.
Attached is the Payment Protection Program (PPP) application form that the US Treasury Department, in conjunction with the SBA, has just released, along with a borrower information sheet. we will need interested bank clients to fill out this application and provide the required infomation to the bank so that we can submit the application to the SBA on Friday, 3 April 2020.
· Click here to access an overview of the program
· Click here for the borrower information sheet
· Click here to access the application for borrowers
We expect that there will continue to be further guidance, processes, and procedures issued by the SBA and will continue to provide updates as they become available. Form now, please send the completed application and the requested information to the bank’s loan department email box and CC your lender at the bank. We will review the information and reply to you if we have a full pre-application.
Union Bank and Trust wants to find ways to help out clients through the current stress of the COVID-19 situation that is unfolding in our country, state, and communities. We are here for you working hard on your behalf, and we are stronger together.
We will share any additional updates on this as soon as they are available.
At Union Bank and Trust, we are here to help our customers, however we can. Please reach out to one of our bankers and let us know what we can do to help.
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