COVID-19: Business Loan Relief

COVID-19: Resources for Your Business

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We have developed several programs to assist customers during this time.

Business Loan Payment Deferral Program*
  • Defer loan payments for up to 120 days
  • Interest only payment options
Business Credit Card Payment Assistance*
  • Interest only payment options

Let us help. Contact us.

*Restrictions may apply
Paycheck Protection Program

The Application Process

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed to provide emergency relief for small - to medium - sized businesses disrupted by COVID-19. The Act created the Paycheck Protection Program (PPP) which allows financial institutions to provide federally-backed, forgivable loans to eligible businesses. 
Please note that the SBA has been issuing new guidance and clarifications to financial institutions on a frequent basis, and this information is subject to change.  
Program Overview:
  • The Paycheck Protection Program (PPP) is a federal loan program that helps small and medium sized businesses impacted by COVID-19 to retain their workforce. The program provides businesses with funds to cover payroll costs, including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
  • The maximum loan size is up to 2.5 times the average monthly payroll costs over the prior 12 months. The maximum loan amount is $10 million. 
  • The loan amounts may be forgiven. Please see the section titled Paycheck Protection Program - Forgiveness for more information on loan forgiveness. 
Who Can Apply?
Small businesses with 500 or fewer employees - including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorship, and independent contractors - are eligible. Businesses with more than 500 employees are eligible in certain industries. Find out if you qualify as a small business here.

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Paycheck Protection Program

 The Loan Forgiveness Process

The Paycheck Protection Program Flexibility Act (PPPFA) was passed and made changes to the Paycheck Protection Program. 

Paycheck Protection Program

Flexibility Act (PPPFA) Overview

Flexible Loan Forgiveness Periods
Extends the Paycheck Protection Program (PPP) loan forgiveness period to include costs incurred over 24 weeks after a loan is issued or through Dec. 31, 2020, whichever comes first. Businesses that received a loan before the changes were passed may elect to apply the original eight-week covered period.


Extended Employee Rehire
The period in which loans can be forgiven if businesses restore staffing or salary levels is extended from June 30 to December 31, 2020. The provision would apply to worker and wage reductions made from Feb. 15 through 30 days after enactment of the CARES Act, which was signed into law on March 27.


Relaxed PPP Loan Use Restrictions
Require at least 60% of forgiven loan amounts to come from payroll expenses instead of the original 75%.


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Please note that the SBA has been issuing new guidance and clarifications to financial institutions on a frequent basis, and this information is subject to change. 

Loan Forgiveness Resources
The SBA is not currently accepting loan forgiveness applications; therefore, we are not taking applications at this time. If your PPP loan is with CSB, we will contact you when we are ready to accept applications and your lender will be available to assist you with the process. We recommend that you use the loan forgiveness application as a guide to start preparing the documentation that will be required.

PPP Loan Forgiveness Application

For more information concerning the Paycheck Protection Program and loan forgiveness, please refer to the US Department of Treasury resources:

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COVID-19 Economic Injury

Disaster Loans


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.

These loans are provided directly through the SBA and you will work with them to apply. For more information, please review the following SBA resources:

U.S. Small Business Administration (SBA)


Small Business Development Center

We realize this may be a challenging time for many of our local businesses. The situation surrounding the Coronavirus (COVID-19) and its impact is changing rapidly, and there is a constant stream of information to process.
We are committed to helping our customers by providing relevant information and assisting in exploring options. The U.S. Small Business Administration (SBA) is launching loan programs to assist businesses and our local Small Business Development Centers can help your business navigate the process.
During this time, we are here to help you and your business. We encourage any customer who is in need of assistance to please contact us. 

We are here to help.

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