Village Bank CARES About Your Business
As a Preferred SBA Lender Village Bank Will Offer New CARES Act Loans.
If your business has been negatively impacted by COVID-19 and has fewer than 500 employees, is a non-profit, a tribal business or a veterans' association, you may be eligible for a loan through the recently announced CARES (Coronavirus Aid, Relief, and Economic Security) Act.
As an SBA Preferred Lender, Village Bank will offer SBA 7(a) loans through the CARES Act. The overall intent of the new stimulus package loans is to help small businesses across the country to not lay off workers due to COVID-19 disruptions, and to help to reinvigorate small businesses across the country. Hence, one of the most important provisions of the CARES for small businesses to be aware of is the Paycheck Protection Program, as it sets aside $350 billion in government-backed loans, and is modeled after the existing SBA 7(a) loan program.
Details that have been shared to date for the CARES Act small business Paycheck Protection Program loans are as follows:
Village Bank will continue to share details as they become available. In the meantime, if you are concerned about your business finances and would like to speak with a Village Bank lending expert, please complete a financial relief form, or email our SBA team directly. A lending expert will contact you as soon as possible to discuss your unique situation and the options available to you.