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April 27, 2020:  SBA Assistance

The Small Business Administration (SBA) has two new programs available to assist small businesses. Impacted businesses may be eligible for the new Economic Injury Disaster Loan Program, which are loans made DIRECTLY by the SBA for working capital needs. The Coronavirus Aid, Relief, and Economic Security (CARES) Act created what is commonly called the “Paycheck Protection Program (PPP).” This financial stimulus package originally included a $350 billion bank loan program for businesses, which was fully allocated on April 16th.  A new stimulus package was approved for an additional $310 billion for small businesses, which commenced on April 27th.

Navigating which program is best for your business may be challenging and that’s where we can help. We have been successful in submitting and obtaining approval from the SBA on all applications received for PPP loans.  As an SBA approved lender, we are continuing to participate in this lending program and meet our customers' needs. While other banks have discontinued taking new applications, First Financial Bank is continuing to accept applications from customers and non-customers to demonstrate our commitment to the communities we serve. If you are interested in applying for a PPP loan, please notify your loan officer and we will provide you with an application, document checklist, and a form we created to help you document your requested loan amount, which are also included below.

PPP Application                    PPP Questions                    PPP New Customers

For up-to-date information on the Payment Protection Program as well as a copy of the application, please visit the US Department of Treasury’s website at https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses.