CARES Act / Small Business Administration (SBA)
Coronavirus (COVID-19) Loan Options
The Road to Recovery
Working together, recovery from COVID-19 is possible. Like you, many businesses are feeling financial pressure due to the impact of COVID-19 and containment measures. HNB wants to reassure you that there are resources available to help your business rebound and establish a new normal.
HNB is Here For You
If you have questions regarding HNB, local or national programs available regarding your financial obligations, please contact us via the link below and we would be glad to assist.
Please note that we are updating our information regularly based upon guidance received. The content and recommendations may be subject to change.
Applicants:
HNB will currently be supporting the application process for businesses and organizations based or operating in the following service areas:
- Lackawanna County, PA
- Luzerne County, PA
- Pike County, PA
- Susquehanna County, PA
- Wayne County, PA
Apply
Starting Friday, April 3, the SBA will begin accepting applications for the Paycheck Protection Program.
As we work to help you navigate the application process, we encourage you to follow the steps below.
Already Submitted Your Application to Us?
If you have already submitted your application to us, please review your submitted application and make any necessary updates or provisions based upon the guidance we are now providing.
We appreciate your patience as we work to support this process as requirements are made known to us.
UPDATED Application Process
Please follow the steps below and review the provided information and documentation carefully. As the application period opens and we receive more information from the SBA it is possible that application requirements may change. We will work to keep you informed of the status of your application and any necessary actions on your behalf in a timely fashion.
Note: All supporting materials are required. To further assist your application, HNB is also making available a PPP Loan Amount Worksheet to help you calculate the suggested loan amount.
Step 1: Please familiarize yourself with the provisions and structure of the relief offering by reading the Paycheck Protection Program (PPP) Overview, Fact Sheet, and Frequently Asked Questions.
Step 2: Review the Instructions for Completing the PPP Application.
Step 3: Complete the PPP Application and save a digital copy. HNB has developed a worksheet to help you determine your loan amount.
Step 4: Gather the supporting material.
Step 5: Submit the completed PPP Application and supporting materials to covid19@hnbbank.com.
If you have any questions, please contact us at covid19@hnbbank.com or by contacting your HNB lender. You may also call 1-570-253-3362 x1430 for PPP Support.
About
The U.S. Small Business Administration (SBA) is now offering loan programs in response to the tremendous detrimental economic impact of COVID-19. Working alongside banks, such as HNB, the SBA and other federal agencies are working together to protect public health. Our top priority is to ensure small businesses can continue their contributions to the state’s economy, and our nation.
Through the announcement of The Coronavirus Aid, Relief, and Economic Security (CARES) Act, $349 billion is being made available nationally to assist small businesses and their ability to keep their staffs’ employed as we work through this challenging time.
An explanation of provisions that are available through the CARES Act is summarized in the following document for your convenience: Coronavirus Emergency Loans Small Business Guide and Checklist.
Programs offered through the SBA include:
- Paycheck Protection Program - to help businesses maintain payroll
- Emergency Economic Injury Grant – quick infusion of smaller amounts of cash for business continuity
- Small Business Debt Relief Program – to ease fears in regards to payment of your current or future SBA loans
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where they operate to help during these challenging times.
Our communities and businesses in the NEPA Region continue to feel the increased impact of COVID-19. NEPA Alliance has been engaged since the onset of this outbreak to be sure businesses stayed informed and know what assistance is available. NEPA will assist with the following:
- Federal:
- SBA will soon have the Economic Injury Disaster Loan assistance available for businesses. These loans can be used to cover expenses still incurred during the shutdown period. For more information on SBA Disaster Loan Assistance Programs, please click here.
- State:
- The Pennsylvania Industrial Development Authority will provide up to $100,000 to eligible small businesses at 0% interest with no payments due for 12 months after funding. NEPA is currently awaiting guidance from PIDA on the application process and more information will be available shortly. NEPA will assist all business with these applications.
- Local:
- NEPA Alliance has 11 small business loan programs that are available to assist small businesses during this time. Please contact them if you are interested.
Information relating to the available programs is changing rapidly, please be sure to check NEPA Alliance's social media, website and media releases for any updates about the various programs noted above. Contact financing@nepa-alliance.org to be added to an emailing data base for the most recent updates.
