Disaster Assistance Resources

We’ve put together some information to help you guide borrowers through this difficult time.  If at any time you have any questions, don’t hesitate to call or email a member of our Lending Team.  We’d be happy to share what we know and help point you in the right direction.

Covid-19 Relief Bill – Dec. 2020:

Congressional Section-by-Section Summary 

Reference Guides:

PPP — Loan Forgiveness FAQs

SBA 504 Debt Refi Reference Guide

Section 1112 Under CARES Act – Debt Relief Payments:

Under the CARES Act, the SBA Debt Relief Program paid the principal, interest and any associated fees that are owed on a 504 loan in good standing (regular servicing status) for the six month period beginning April 1, 2020.

The initial availability of this program ended on September 27, 2020.  Congress passed a COVID-19 Relief bill on December 21, 2020, which will extend this vital relief.  While we are awaiting official interpretation from SBA as to how this will be implemented, you can read the legislative language directly for more details.