Coronavirus Emergency Loans for Businesses
Coronavirus Aid, Relief, and Economic Security (CARES) Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $349 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provided 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency.
Paycheck Protection Program:
As of April 16, 2020, all $349 billion of the funding for the Paycheck Protection Program has been committed to small businesses across the United States. While Congress debates another round of funding, the U.S. Treasury and the SBA will no longer accept applications.
We appreciate that you have come to Boone Bank & Trust Co. for your small business needs, and we ask you to return to this page if new Paycheck Protection Program funding is approved.
Click here to view a summary of the Paycheck Protection Program.
Click here to view Paycheck Program Frequently Asked Questions.