With the recently passed additional funding for the CARES (Coronavirus Aid, Relief, and Economic Security) Act, First National Bank & Trust is available to help area businesses get assistance and relief from this economic stimulus package.
An additional $310 billion dollars was allocated to the Paycheck Protection Program (PPP) on April 24, and processing began this week. Community banks were specifically allocated $60 billion to assist with their PPP efforts. Including this second round of funding, the program will have provided nearly $659 Billion worth of US payroll. The PPP loan program is available for eligible small businesses, including sole proprietors, and non-profits, veterans organizations and tribal business concerns, to provide a forgivable loan to cover payroll and other costs.
“As we continue to support our local economies and their financial needs at First National Bank & Trust, it’s apparent how vital partnerships and long lasting relationships continue to bring out the best in all of us, especially in uncertain times,” said Dale Cook, Business Banker, First National Bank & Trust. “We appreciate the opportunity to service the needs of our communities and believe everyone’s resilience will be the key to building a stronger community.”
First National Bank & Trust has assisted hundreds of businesses with the Paycheck Protection Program during this time, which has helped over 4,500 employees to date.
“We take pride in knowing how those numbers financially benefit local family households and how it exponentially impacts the communities we serve,” Cook said. “We are here to work with you in the hard times when it matters most. Whether you’re a current customer or not, let us be a resource for you and your business. As one community we’ll get through this together¬- contact us today and we can help you navigate the process.”
To make an appointment with First National Bank & Trust’s Business Banking team, call 906-774-2200. For more information, as well as online contact information, visit www.fnbimk.com/cares-act-assistance.