CORRECTED: New SBA and Treasury Programs Available for Small Business Relief

Financial Institution Letter

April 2, 2020

Corrected link to the Treasury Department's Small Business resources page


New SBA and Treasury Programs Available for Small Business Relief

Summary:

The FDIC is advising financial institutions of multiple forms of relief available in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to small businesses through programs administered by the Small Business Administration (SBA).  The U.S. Department of the Treasury (Treasury) also offers small business loan programs.  The FDIC encourages financial institutions to consider using these programs in a prudent manner as they actively work with small business borrowers with less financial flexibility to weather near-term operational challenges due to the Coronavirus Disease 2019 (referred to as COVID-19).

Statement of Applicability to Institutions under $1 Billion in Total Assets:

This Financial Institution Letter (FIL) applies to all FDIC-Supervised Institutions.

Distribution:

FDIC-Supervised Banks

Read the FIL

 

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