COVID-19 Small Business Assistance

Federal Programs

The following resources are intended to assist small business owners navigate federal programs implemented as a result of the COVID-19 outbreak. Contact your Western Security Bank Lender for additional information.

Paycheck Protection Program

What is the Paycheck Protection Program (PPP)?

This program gives small businesses access to short-term cash flow assistance to help cover operating expenses and keep employees employed. These loans will come directly from Western Security Bank and be guaranteed by the Small Business Administration (SBA), allowing you to work with a bank you know and trust.

Who Can Apply

This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.

Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries. Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible.

How To Apply

Eligible Existing WSB Customers –
- Complete the Paycheck Protection Program Application
- Collect the required documentation
- Submit to your Western Security Bank Lender.
Eligible Non-Customers – Taking immediate action is critical to the application process. The fastest way to access funding is through a financial institution where you already have an account. Among other things, your existing financial institution has already completed all of the federally required customer identification and beneficial ownership certification processes. The SBA provides a list of participating lenders at www.sba.gov.

Important Information

Review the U.S. Treasury’s Paycheck Protection Program Borrower Information Sheet. You should review this document for important information about use of loan proceeds, loan amount, loan forgiveness requirements, etc.

NOTE: Information provided by the U.S. Treasury is subject to change at any time.

Economic Injury Disaster Loans

In response to the Coronavirus (COVID-19) pandemic, small business owners are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

For more information regarding SBA Economic Injury Disaster Loans consult the SBA website.

More Information

For more information about either of these government programs, please contact your Western Security Bank Business Banker

Business Bankers