Greetings from CNB Bank-
Once again, thank you for choosing CNB Bank for your Paycheck Protection Program (PPP) loan. We are pleased that we assisted hundreds of small businesses secure loans to protect thousands of jobs for hardworking folks in our community. As an update, CNB Bank has funded 98% of all PPP loan requests, injecting millions of dollars of capital into our communities. It was reported today that community banks provided 62% of the overall PPP loans across the nation.
On Friday, May 15
, the United States Treasury released the much anticipated, however complex,
PPP Forgiveness Application
. We encourage you to review it to begin planning and assembling information expected to support PPP forgiveness. As the Small Business Administration (SBA) continues working with the United States Treasury to provide additional guidance and clarity to the forgiveness document, we wanted to share that CNB Bank is working toward a solution to streamline PPP loan forgiveness requests, at no cost to you. We have attached a previous document we shared,
Suggestions for PPP Loan Forgiveness
, and direct you to the most recent
SBA PPP Frequently Asked Questions
which is updated regularly.
We encourage you to continue monitoring the various guidelines and take appropriate action in consultation with your legal and/or accounting professional.
Mark D. Harrell
We’ll get through this, learn a great deal, and be better on the other side!
101 S. Washington Street | PO Box 130 | Berkeley Springs, WV 25411
20 W. Washington Street | Hagerstown, MD 21742