The CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program (PPP), the initiative provides 100% federally guaranteed loans to small businesses. These loans may be forgiven if borrowers maintain their payrolls during the crisis or quickly rehire employees and maintain salary levels.
Learn more about PPP loans below. Western States Bank is currently accepting PPP applications from eligible customers in Colorado, Nebraska, and Wyoming. Please contact your local lender to get started or if you have any questions.
Review the Coronavirus Emergency Loans: Small Business Guide and Checklist, prepared by the U.S. Chamber of Commerce.
U.S. Chamber of Commerce, "Coronavirus Emergency Loans Small Business Guide and Checklist"