Small Business Guidance and Loan Resources

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Small Business Guidance and Loan Resources

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Now accepting applications for the Paycheck Protection Program (PPP)

Please note we are only accepting PPP applications from current FNB customers.

Due to the number of PPP related applications we’re receiving as well as national demand, we cannot guarantee applications will be processed and approved by the SBA before the CARES Act stimulus funds are exhausted. We sincerely apologize for any uncertainty this may cause.


PPP forgiveness guidance

On May 15, the SBA released their PPP Loan Forgiveness Application, but final guidance for borrowers and lenders is still pending. FNB’s plan for the forgiveness application process will be finalized upon receiving guidance from the SBA. Once we receive final guidance, we will communicate those details to you. A link to the SBA Forgiveness Application can be found below in the PPP Loan Forgiveness section. Please note that this application and required supporting documentation is subject to change.

The Paycheck Protection Program (PPP)

PPP Loan Application

Loans intended to cover payroll for small businesses keep workers employed during the pandemic. The program provides 100% federally guaranteed loans to small business.

Eligibility
Small Businesses – 500 employees or less


Loan Amount
Up to $10 million


Interest Rate
2-year term at 1.0%
6 months of deferred payments


Collateral
Unsecured


Repayment
Forgivable; details and exclusions apply


Click Learn More for additional details.

Learn More Apply Now
PPP Loan Forgiveness

Subject to change via the SBA’s final guidance. View current U.S. Treasury Guidelines in the Additional Resources box below.

Covered Period
The eight-week period as defined by the preliminary SBA Forgiveness Application.


When to Apply
After the eight-week Covered Period has passed, you have all needed supporting documentation, and FNB has opened our application process.


Covered Expenses
Payroll expenses
Mortgage, lease, and/or utility payments

Not more than 25% of the loan forgiveness amount may be attributable to non-payroll costs


Forgiveness Timeline
FNB decision within 60 days of complete application
Followed by SBA decision within 90 days


Click Learn More for additional details.

Learn More Preliminary SBA App
FNB's PPP Efforts

Our team has put in many late nights and early mornings to help take care of our business banking customers. Take a look at our work to-date with the PPP.

Small Business Employees Kept on Payroll
More than 10,000


Loans Processed
More than $100 million


Businesses Helped
832

Includes 325 sole proprietors/self-employed individuals


Click Learn More for our blog post on our PPP efforts.

Learn More
Economic Injury Disaster Loans (EIDL)

Low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the COVID-19 outbreak.

Eligibility
Small businesses – all states


Loan Amount
Up to $2 million


Interest Rate
3.75% for small businesses
2.75% for non-profits


Collateral
Required – available collateral


Repayment
Business cash flow with amortization </= 30 years


Click Learn More for additional details.

Learn More Apply Now
Emergency EIDL Loan Advance/Grants

To supplement the EIDL Program, applicants may also receive a loan advance that will not have to be repaid. Funds will be made available within three days of a successful application.

Eligibility
Small Businesses – 500 employees or less


Coverage Period
January 31, 2020 to December 31, 2020


Advance Amount
Up to $10,000


Repayment
Not required


Click Learn More for additional details.

 

Learn More Apply Now
SBA Debt Relief Program

SBA will pay principal and interest, as well as associated fees for a period of six months on all SBA 7(a) loans.

Eligibility
Small businesses – all states


Amount
SBA will make payments on principal and interest for all existing SBA 7(a) and 504 Loans

and

SBA will make first six payments on SBA 7(a) and 504 Loans made from March 27 to September 27.


Coverage Period
6 payments/6 months


Exclusions
Does not apply to loans made under the Paycheck Protection Program (PPP)


Click Learn More for additional details.

Learn More Contact Us
Additional Resources

U.S. Treasury Guidelines
Treasury.gov


U.S. Small Business Administration Disaster Loan Resources
SBA.gov


The Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act
CARES Act


CDC Guidance for Businesses and Employers on COVID-19
CDC.gov