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$ Free Money $ For Small Businesses Did YOUR bank tell you about it? Recenty Congress, in their infinite wisdom, passed the CARES Act. You've probably We make heard about it. It's a $2 trilion package that has something free for everyone and is supposed to save the country from the financial effects of the Corona Virus. A part of PPP the act is called the Paycheck Protection Program or PPP. The Feds have allocated Loans Steve Jamnik $349 billion for this program. It requires the SBA, through SBA certified lenders like us, to offer forgivable loans to small businesses. Yep, forgivable loans, as in if you do things right, you don't need to pay it back. How does it work? Well, first you need to be a small business which means that you have less than 500 employees. You calculate the average monthly payroll for 2019 including fringe benefits and other payroll related costs. You multiply that number by 25 and that is the amount of the loan that you can request. The business doesn't need to provide any collateral. The business owners do not need to provide personal guarantees. 815.230.8000 In fact, the businesses do not even need to provide much financial information to the bank. And, it's a two year loan with a 1% interestrate and no upfront fees. Further, if the business uses the money for payroll and other types of expenses such as rent, mortgage Complete Details payments and utilities, the government will forgive most or all of the loan. First Secure Bank processed and had the SBA approve about 200 applications in the FIRST WEEK that the program was active. That number is much higher now. Why, because our lenders worked with our customers and explained the program to them. them They guided them through the application process and obtained the loan approval for If you are a local business person, did your bank call you and tell you about the program? Probably not. They're too busy or you're too small. In fact, we have been told that some local banks in the Joliet area didn'teven initially offer the program to their customers who asked about it. Other banks stalled their customers for several days before working with them. Why, because they wanted to process the paperwork for their larger customers first. Is that the kind of bank that you want as your bank? First Secure Community Bank of Joliet is the Joliet area's community bank. We are Monster locally owned and locally managed. Other banks may have their branches here but (SBA Payment Protection Loans) Call Sam Gersman Today for eryl Bochard Call for Brandy Robbins CD Rates we have our roots here. We take care of our customers. We appreciate cur customers. So if you are one of the many area businesses that received little or no help from your bank in a timely manner regarding a PPP loan, come and see us. We're different. We'll never be too busy and you'll never be too small. John Mendoza FIRST SECURE Joliet's locally-owned locally managed community bank! COMMUNITY BANK OF 2398 Essington Rd., Joliet, IL 60435 JOLIET Member FDIC st (Corner of Essington and Caton Farm Rd.) 815.230.8000 We're not just your bank, we're your neighbor www.1stsecurebank.com $ Free Money $ For Small Businesses Did YOUR bank tell you about it? Recenty Congress, in their infinite wisdom, passed the CARES Act. You've probably We make heard about it. It's a $2 trilion package that has something free for everyone and is supposed to save the country from the financial effects of the Corona Virus. A part of PPP the act is called the Paycheck Protection Program or PPP. The Feds have allocated Loans Steve Jamnik $349 billion for this program. It requires the SBA, through SBA certified lenders like us, to offer forgivable loans to small businesses. Yep, forgivable loans, as in if you do things right, you don't need to pay it back. How does it work? Well, first you need to be a small business which means that you have less than 500 employees. You calculate the average monthly payroll for 2019 including fringe benefits and other payroll related costs. You multiply that number by 25 and that is the amount of the loan that you can request. The business doesn't need to provide any collateral. The business owners do not need to provide personal guarantees. 815.230.8000 In fact, the businesses do not even need to provide much financial information to the bank. And, it's a two year loan with a 1% interestrate and no upfront fees. Further, if the business uses the money for payroll and other types of expenses such as rent, mortgage Complete Details payments and utilities, the government will forgive most or all of the loan. First Secure Bank processed and had the SBA approve about 200 applications in the FIRST WEEK that the program was active. That number is much higher now. Why, because our lenders worked with our customers and explained the program to them. them They guided them through the application process and obtained the loan approval for If you are a local business person, did your bank call you and tell you about the program? Probably not. They're too busy or you're too small. In fact, we have been told that some local banks in the Joliet area didn'teven initially offer the program to their customers who asked about it. Other banks stalled their customers for several days before working with them. Why, because they wanted to process the paperwork for their larger customers first. Is that the kind of bank that you want as your bank? First Secure Community Bank of Joliet is the Joliet area's community bank. We are Monster locally owned and locally managed. Other banks may have their branches here but (SBA Payment Protection Loans) Call Sam Gersman Today for eryl Bochard Call for Brandy Robbins CD Rates we have our roots here. We take care of our customers. We appreciate cur customers. So if you are one of the many area businesses that received little or no help from your bank in a timely manner regarding a PPP loan, come and see us. We're different. We'll never be too busy and you'll never be too small. John Mendoza FIRST SECURE Joliet's locally-owned locally managed community bank! COMMUNITY BANK OF 2398 Essington Rd., Joliet, IL 60435 JOLIET Member FDIC st (Corner of Essington and Caton Farm Rd.) 815.230.8000 We're not just your bank, we're your neighbor www.1stsecurebank.com