Local banks invest in their communities
RNB State Bank, Bank of Commerce aid local businesses in applying for loans under new CARES Act
April 15, 2020
Many small businesses in Carbon County have been impacted by the COVID-19 shutdown. The Coronavirus Aid and Economic Security (CARES) Act was created to help alleviate the damage to these businesses and their employees.
The main force of the small business stimulus in the CARES Act is contained in the Paycheck Protection Program (PPP). The $349 billion initiative, funded under the Small Business Administration (SBA) Business Loans Program Account, is meant to supply loans to businesses to guarantee eight weeks of payroll and other costs to help those businesses survive and allow their...