Paycheck Protection Program provides loans to small businesses

JACKSBORO, TN (WLAF) – The U.S. Chamber of Commerce offers a Coronavirus Emergency Loans Small Business Guide and Checklist.The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350-billion to help small businesses keep workers employed amid the pandemic and economic downturn.  Known as the Paycheck Protection Program, the initiative provides 100 percent federally guaranteed loans to small businesses who maintain their payroll during this emergency.

Local banks are already helping some local businesses get this loan.  Citizens Bank, Community Trust Bank, Home Federal Bank, Peoples Bank of the South and United Cumberland Bank are participating in the Paycheck Protection Program.  They welcome all calls for assistance in making the loan.

(WLAF NEWS PUBLISHED – 04/01/2020-6AM)