Paycheck Protection Program

 

04/16/2020

At this time Community National Bank is not able to process any Paycheck Protection Program loan applications. Allocated funding has been exhausted. If there is a point in the future when more funds are available CNB will make announcements on this page. Please stay tuned to the CNB website as information may change.

 

4/3/2020

Community National Bank is diligently working to answer questions and provide support regarding the Paycheck Protection Program (PPP). At this time, we, like many financial institutions, are unclear on how the limited funds provided for by the CARES act will be allocated and we are awaiting additional guidance to aid in our understanding on how this program will work for the long term. Through various correspondence, we are informed that the Small Business Administration (SBA) is working on final guidelines and requirements.

Everyone is encouraged to complete their loan request for the PPP program and submit it to their CNB loan officer as soon as possible, but please know that CNB may be unable to submit loan applications until final program guidelines and requirements are received from SBA. Community National Bank will do all that we can to position our customers to receive program funding but can make no guarantees regarding the success of these efforts.

We will endeavor to provide you with as much information on this program that becomes available as we receive it. We appreciate your patience as we work to help you and your business navigate this new environment.

 

For additional information please visit the SBA.GOV website