April 16, 2020
The Treasury and Small Business Administration (SBA) have announced the initial funding for the Paycheck Protection Program has been fully utilized.  Our Commercial Bank and Trust Team has worked nonstop since the program was opened on April 3rd to process and fund the tremendous volume of SBA applications submitted.  We have seen the significant impact this program has had for the businesses and communities we serve.  Commercial Bank and Trust continues to support the Tennessee Bankers Association, American Bankers Association, and the Independent Community Bankers Association as they encourage Congress to approve additional funding for the Paycheck Protection Program.  Additional updates from the Treasury and Small Business Administration will be provided as they become available.  If additional funding is approved, Commercial Bank and Trust will be ready to move forward.  We encourage you to contact your CBTC banker with any questions or needs you may have.  We are here to serve you and remain committed to providing financial solutions through these challenging times.

April 14, 2020 Update

Thank you to our many clients that continue to reach out to us regarding the options available through SBA under the CARES Act.  We are pleased to report the application, approval, and funding process continues with the Paycheck Protection Program (PPP) through SBA.  The CBTC team has worked nonstop over the past twelve days to answer questions and assist businesses with the options available through the recently approved CARES Act.  As of last night, these companies have received approval to fund 4,709 jobs so far through the Paycheck Protection Program and CBTC.  We continue to accept and process applications for the PPP, and encourage you to contact your CBTC banker should you have questions or need additional information regarding the program or other options available through SBA under the CARES Act.

April 3, 2020 update
Commercial Bank is accepting complete application packages and has begun our internal validation procedures so that we will be prepared to submit your application to the SBA as soon as they grant the bank access to their portal.
We will continue to provide updates on our website.  If you have questions or need additional information regarding the process to submit, we encourage you to contact your CBTC banker directly.


March 31, 2020

Commercial Bank and Trust Company Clients:

The recent announcement and approval of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and SBA Disaster Assistance programs may provide economic assistance for your company during the COVID-19 health crisis.  Please know that your bankers at Commercial Bank and Trust Company are here to help you navigate the process.  We will continue to monitor the updates provided by SBA to keep you informed and in a position to move forward with the appropriate course of action once the details are finalized.
SBA options under the CARES Act include:

Economic Injury Disaster Loans (EDIL)

  • Funds may be used for payroll, working capital, operating expenses,  debt repayment
  • Maximum loan amount is $2 million
  • Collateral is not required for loans up to $25,000
  • Available directly through SBA, apply online by clicking here

Paycheck Protection Program (PPP)

  • Application procedures and requirements continue to be developed by the Small Business Administration for the Paycheck Protection Program. The terms and conditions are subject to change by SBA or the Department of Treasury. Updates will continue to be posted on our website at www.cbtcnet.com.
  • The PPP will provide 100% SBA guaranteed loans to cover specific operating costs.
  • The maximum loan amount will be capped at two months of the average monthly payroll costs from the last year plus an additional 25% of the two-month amount. The amount is subject to a $10 million cap.
  • A portion of the loan proceeds funded as part of the PPP, up to or equal to 8 weeks of covered expenses, may be forgiven by the SBA if certain requirements are met.
  • Additional information is available though the Small Business Administration by clicking here, or the Department of Treasury by clicking here

In addition to these lending tools, we encourage you to use our online banking options for convenient and flexible access to your Commercial Bank and Trust Company accounts. As a reminder, in an effort stop the spread of the COVID-19 virus, we will continue to redirect traffic to our drive-thru windows and schedule lobby visits by appointment only. Please contact your local CBTC banker with any questions. We appreciate your continued relationship and look forward to serving you.


Mott Ford, Chairman and CEO

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