The Coronavirus Aid, Relief and Economic Security (CARES) Act, signed by President Trump on March 27, has set aside $350 billion in loans to small businesses during this time. For our business owners within Middle Georgia, it means those facing current and potential drops in revenue and employee layoffs are eligible to apply for the Paycheck Protection Plan to assist you in meeting payroll needs, and to cover rent and utilities.
Guidelines for the full CARES Act and Paycheck Protection Plan are provided by the Small Business Administration (SBA). Once the program is in place and approved, Morris Bank will be ready to assist our customers and their businesses with applying and obtaining these funds. As an experienced SBA lender, our team is well qualified to take care of you through this process and help you weather this storm.
Morris Bank continues to remain committed to each community we serve. If you are looking to discuss your options now or to apply for a loan when it has been passed, please call give us a call today.