COVID-19 UPDATES

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Paycheck Protection Program Remains Open

The deadline to apply for a Paycheck Protection Program is June 30, 2020.

Please follow the link below for access to the most current PPP Application Form as well as information on the rule including eligibility requirements:
https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses

Yoakum National Bank has a team dedicated to handle the Paycheck Protection Program Loans. Please contact Jennifer Mancha to apply for a PPP loan, ask any questions and/or be added to our email list to receive up to date information on the status of the Paycheck Protection Program.

Jennifer Mancha
Main Line: 361-293-5225
Direct line: 361-541-6399
Cell Phone: 210-835-4253
Email jmancha@yoakumnationalbank.com.

Economic Injury Disaster Loans (EIDL) now Accepting New Applications

The Small Business Administration’s (SBA) Economic Injury Disaster Loans and Advance Program has been reopened to all eligible small businesses and non-profits impacted by the COVID-19 pandemic. For additional information and eligibility guidelines, go to:

https://www.sba.gov/funding-programs/disaster-assistance/coronavirus-covid-19

You can also download and view a press release with more information on the reopening of this program.

Download PDF

Paycheck Protection Program Forgiveness Process Application Updates Effective June 16, 2020

If you have received a Paycheck Protection loan, the SBA provided revised forgiveness applications on June 16, 2020 and has also added additional revisions to the rule. For additional information on the forgiveness requirements and/or to locate the application, instructions and the rule go to:

https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses