As your Community Bank, Park State Bank and Trust is here to assist any of our local businesses, self-employed individuals, contractors and gig workers who have experienced financial difficulty or economic impact as a result of the COVID-19 virus.
PSBT is participating in the Paycheck Protection Program (PPP) introduced by the SBA as part of the CARES Act. We are here to help you navigate this process and will work with each customer individually to determine the programs that will best fit you and your business.
The array of federal and state programs introduced as a result of these circumstances is changing rapidly, and you can be assured PSB&T is constantly assessing the individual programs and their requirements. Banks across the country are working to get connected to the SBA systems, which are understandably overloaded with the influx of applications. We are establishing an online secure file transfer system that will allow you to upload your PPP application and supporting documents directly to us.
We have received over 100 requests from local customers for assistance through these programs. If you have not yet reached out, please send best phone and email contact to [email protected] and we will contact you with further information.
We encourage everyone to apply to any applicable program, including Colorado state unemployment, SBA online EIDL loans and grants, and the Paycheck Protection Program. Many of these programs include forgivable loans. We are encouraging all customers to use funds for business emergency expenses only until there is further clarity on repayment expectations.
Links to these programs include:
Colorado State Unemployment: https://www.colorado.gov/pacific/cdle/unemployment
SBA Emergency Grants: https://covid19relief.sba.gov/#/
The PPP – Paycheck Protection Program: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf
Guide to all SBA lending resources: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options