Helping our customers and communities get back on track is our number one priority
These are general guidelines and are subject to change through the final rulemaking and eligibility requirements from the U.S. Small Business Administration (SBA). Changes governed by the SBA may impact application dates and potentially delay the application process.
Amerant cares about the health and well-being of our customers, our employees and the communities we serve. We are carefully monitoring the COVID-19 virus, including the guidelines provided by the Centers for Disease Control (CDC) and other public health officials. We understand you may feel some uncertainty due to this rapidly evolving situation, and want to reassure you that we remain committed to serving all your financial needs.
Your Small Business Resource for the CARES Act CLICK HERE
Passed by congress last week and signed by President Trump into law, the $2 trillion economic assistance package includes a new $350 billion loan program created by the Small Business Administration (SBA) called the Paycheck Protection Program. It will be administered under the SBA’s Section 7(a) program and offers 100% government guarantee on this loan.
The program was specifically designed to help businesses with 500 or fewer employees. It provides economic relief for key operating expenses such as payroll, rent, mortgage, healthcare costs, utilities, and more.
Amerant is proud to participate in the Paycheck Protection Program and support our customers during this critical time. Applications may be submitted as early as:
April 3, 2020 – Small Businesses and sole proprietorships April 10, 2020 – Independent contractors and self-employed individuals
If you believe that you are an eligible small business, we want to encourage you to begin preparing the appropriate documentation now! To download the application, CLICK HERE
As an SBA Preferred Lender, our team at Amerant is working to help you learn about these new relief measures and how they may help you. We are here for you every step of the way throughout the recovery!
If you have any questions about the Paycheck Protection Program, please reach out to your banking officer or call us at 1-888-629-0810 for more details.
To schedule an appointment, visit our Locations page.
As always, thank you for choosing Amerant as your trusted ﬁnancial advisor.
To see our latest updates on Coronavirus (COVID-19) CLICK HERE
Who is eligible?
Small businesses under 500 employees, including full-time, part-time and other status
501 (c)(3) non-profits with less than 500 employees
Loan amounts up to 2.5 times your average monthly payroll, which includes your 1099 contractor, or a maximum of $10,000,000
No personal guarantees or collateral required; non-recourse
Deferral and forgiveness options
Maximum 1% interest rate with a 2-year maturity for loan amounts not forgiven (loan forgiveness amount is based on total employees retained or re-hired as of June 30, 2020, compared to the number of employees a business had on what is considered the impact date, February 15, 2020)