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Dear Valued Customer,

During this time of economic uncertainty, the challenges you’re facing to keep your business up and running might seem overwhelming Please know that we are here for you, and we will face the impacts of the coronavirus (COVID-19) together.

As your financial partner, we want to make you aware of the modification and expansion of the U.S. Small Business Administration (SBA) 7(a) loan program which resulted from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The Paycheck Protection Program (PPP), a $349 billion bank loan program, was created to help small businesses and nonprofit organizations cover payroll costs, interest on mortgage payments, rent obligations, and utilities.

PPP Highlights:

- Potential loan forgiveness.

- Interest rates not to exceed 4%

- Deferred payments for a period of no less than six months

The PPP will be offered by the SBA through private lending institutions - like River Bank & Trust. We are currently awaiting guidance from the U.S. Treasury to proceed with the program and begin making loans. As soon as we do, we will let you know.

To learn more about the CARES Act and your eligibility, you may read this Small Business Owner’s Guide provided by the U.S. Senate Committee on Small Business & Entrepreneurship.

Please contact us for guidance or support. We appreciate your business.

Sincerely,

Jimmy Stubbs
Chief Executive Officer