Paycheck Protection Program Update

Greetings from CNB Bank-


We are pleased to announce we again have a cloud-based solution for Paycheck Protection Program loans for the next round of requests. We anticipate sharing the link within the next few days, directly following the SBA timeline for lenders and applicants.  In the meantime, find below helpful information to guide you in your decision to apply.

The Small Business Administration (SBA) on Friday evening, January 8th, released updated borrower applications for both first draw and second draw Paycheck Protection Program (PPP) loans. The revised forms will be placed into CNB Bank’s cloud-based solution to expedite the application process. There is no need to complete these forms manually, or before the cloud-based link is shared. The SBA portal is scheduled to reopen January 11th for certain lenders reaching underserved communities, including Community Development Financial Institutions (CDFI) and Minority Depository Institutions (MDI). It is anticipated the portal will be accessible for all lenders and borrowers by the end of this week

We have dedicated a page on our website to PPP to provide you with updates from various sources and encourage you to review the available resources. The SBA’s ‘Top-Line Overview’ is a helpful guide to determine eligibility.

CNB Bank remains committed to this process, will provide relevant information as it becomes available, and will provide you the CNB Bank specific link which will streamline your application. 




Warm regards,
Mark
     


Mark D. Harrell
President/CEO

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 
304-258-7392 Office| 301-491-4543 Cell  


This message is intended to convey general information only and not to provide legal advice or opinions. This message (and the posting and viewing of the information on the CNB Bank website) should not be construed as legal advice, may not be current and is subject to change without notice.