COVID-19 BUSINESS RELIEF PROGRAMS
We are committed to helping businesses who have been impacted by COVID-19. ACCESSbank is offering interest only options, payment deferrals and fee waivers where appropriate for commercial loan clients who request it. Please contact your banker to complete the necessary paperwork. If your current situation demands something different, our business bankers can customize a solution to meet your needs.
Main Street lending program:
Paycheck Protection Program Forgiveness:
The SBA Paycheck Protection Program (PPP) Forgiveness Platform opened and started accepting forgiveness applications on August 10, 2020.
There is proposed legislation which may reduce the amount of paperwork required for PPP loans $150,000 and less. If the bill passes, it will simplify the forgiveness process for those who received funds within this category. It is our goal to get clarification before accepting applications for these loans to make sure we are requesting the correct documentation.
We are in the process of testing the forgiveness portal and plan to send a link to those who received loans greater than $150,000 very soon.
Emergency Injury Disaster Loan (EIDL):
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. Click here(Opens in a new Window) to learn more.
To explore options for your business, connect with our business banking team.