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    April 24, 2020
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$ Free Money $ For Small Businesses Did YOUR bank tell you about it? Recently Congress, in their infinite wisdom, passed the CARES Act You've probably We make heard about it. It's a $2 trillion 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 the act is called the Paycheck Protection Program or PPP. The Feds have allocated $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 Protection Program) PPP Loans Steve Jamnik (SBA Paycheck have less than 500 employees. You calculate the average monthly payrol for 2019 including fringe benefits and other payrolil related costs. You multiply that number by 2.5 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 815.230.8000 guarantees. In fact, the businesses do not even need to provide much financial information to the bank. And, it'sa two year loan with a 1% interest rate and no upfront fees. Further, if the business uses the money for payroll and other types of expenses Complete Details such as rent, mortgage payments and utities, the government will forgive most or all Call Sam Gersman Today for of the loan. Call for 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. Monster They guided them through the application process and obtained the loan approval for Cheryl Bochard CD Rates them. 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 Brandy Robbins 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 locally owned and locally managed. Other banks may have their branches here but we have our roots here. We take care of our customers. We appreciate our 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 (Corner of Essington and Caton Farm Rd.) Member FDIC st JOLIET We're not just your bank, we're your neighbor 815.230.8000 www.1stsecurebank.com $ Free Money $ For Small Businesses Did YOUR bank tell you about it? Recently Congress, in their infinite wisdom, passed the CARES Act You've probably We make heard about it. It's a $2 trillion 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 the act is called the Paycheck Protection Program or PPP. The Feds have allocated $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 Protection Program) PPP Loans Steve Jamnik (SBA Paycheck have less than 500 employees. You calculate the average monthly payrol for 2019 including fringe benefits and other payrolil related costs. You multiply that number by 2.5 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 815.230.8000 guarantees. In fact, the businesses do not even need to provide much financial information to the bank. And, it'sa two year loan with a 1% interest rate and no upfront fees. Further, if the business uses the money for payroll and other types of expenses Complete Details such as rent, mortgage payments and utities, the government will forgive most or all Call Sam Gersman Today for of the loan. Call for 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. Monster They guided them through the application process and obtained the loan approval for Cheryl Bochard CD Rates them. 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 Brandy Robbins 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 locally owned and locally managed. Other banks may have their branches here but we have our roots here. We take care of our customers. We appreciate our 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 (Corner of Essington and Caton Farm Rd.) Member FDIC st JOLIET We're not just your bank, we're your neighbor 815.230.8000 www.1stsecurebank.com