CARES Act Payroll Protection Program

To Our Business and Self-employed Customers;

Our Federal Government recently passed the CARES Act; which authorizes and provides an unprecedented amount of fiscal stimulus to businesses and individuals across the United States.

One of the provisions of the CARES Act is the Paycheck Protection Program, available to employers in order to keep their workers employed during this Coronavirus Pandemic. These loans are guaranteed by the SBA, partly forgivable, and do not requirement payment for six months. The loans do not require collateral or personal guaranties from the business owners.

American Eagle Bank and American Eagle Bank of Chicago are fully participating in this historic program, and attached below business owners can download an overview of the program, application materials, and forms necessary to submit an application.

Businesses and self-employed individuals who are interested in the program and who have completed the attached materials should contact EricaC@amebank.com or JenniferL@amebank.com for access to a secure email for submission of the application.

Documents:

Certification of Beneficial Owners of Legal Entities
New Business Account Checklist
Paycheck Protection Program Application
Payroll Protection Program Borrower Submittal Checklist
Paycheck Protection Program - Overview For Borrowers
Paycheck Protection Program - Fact Sheet for Borrowers
Payroll Protection Program Borrower Loan Amount and Forgiveness Template
Business Loan Program Temporary Changes; Paycheck Protection Program