Important CARES Act and Payment Protection Program Information
April 7, 2020
The Bank of Tampa is pleased to announce that the Small Business Administration (SBA) has provided guidance surrounding the CARES Act and, as of last Friday, we began processing applications for our clients. If you are an existing commercial loan or commercial deposit client, we are ready to help you apply for the Paycheck Protection Program. We are prioritizing Paycheck Protection Program requests for clients and are ready to provide you with more information.
Please understand that the requirements for documentation and the terms of the loan are predetermined and mandated by the SBA, and we are complying with these requirements to ensure the government guarantee associated with any loans.
To learn more about the Paycheck Protection Program, along with guidance and details on required documentation, we encourage you to read the entire Interim Final Rule, available here.
- Section 2, starting on page 5, details “What Do Borrowers Need to Know and Do?”
- On Page 10, item f, details “What qualifies as ‘payroll costs?’”
- On page 15, item q, details “What forms do I need and how do I submit an application?”
- Additionally, page 17, item t, details “What certifications need to be made?”
To view the Paycheck Protection Program Application and understand what you must certify in order to apply, please click here.
PLEASE NOTE: If you have already submitted an application and documentation to us, there is no need to resubmit. We are working through submissions and will be in touch with you shortly.
If you have any questions or would like to learn more about the CARES Act and the Paycheck Protection Program, please contact your relationship manager directly or our Client Service Center at (813) 872-1200.
The Bank of Tampa