At California Bank of Commerce, our brand has been built on supporting the businesses in our regional economies. We recognize the extenuating circumstances surrounding the COVID-19 outbreak, and the significant disruptions and hardships that many of our business clients are facing.
- With the recent passage of the CARES Act, many businesses are pursuing loans under the Paycheck Protection Program (PPP), which allows for funding to meet payroll, rent and utilities obligations, as well as debt forgiveness, subject to the applicable rules and regulations.
- CBC is an SBA Preferred Lender and is participating in the CARES Act Paycheck Protection Program (PPP).
- We understand the importance of providing our trademark service and support to our clients in need at this time. To assure that we are able to address as many of these requests as possible within the scope of the bank’s funding capacity, we are currently limiting PPP application acceptance to CBC clients only, and reserve the right to cease accepting applications.
- Clients with questions regarding the PPP, or who are interested in pursuing a loan under the Program, should work directly with their CBC Relationship Managers, who can provide the requirements for application submission, as well as the steps involved in the process. All applications must be submitted through a CBC Relationship Manager.
- We understand that this is a challenging time and are working to address the considerable demand for PPP financing by our clients as expeditiously as possible.
- Specifics on the PPP continue to develop. Current information on the Program, as well as other SBA loan resources, is available on the Small Business Administration (SBA) website: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
As additional information becomes available, we will provide continued updates.