AMARILLO, Texas (KFDA) - Amarillo National Bank is sharing which benefits small businesses could see with the expected passage of the stimulus package on Friday.
The nearly $350 billion package guarantees loans for qualifying businesses.
These loans can be used by businesses to cover a variety of expenses, including payroll, rent and employee benefits.
ANB is ready to help local small businesses with managing this loan.
“We’re gonna move really quick. We want to make sure we fund this for our customers as soon as possible. This is a program that’s literally for anybody. Anyone with 500 employees can apply for this, there are some restrictions we will consider on a case-by-case basis, but we encourage anyone to apply. We’re excited to be part of this historical legislation. All banks will offer this, we’re gonna be the ones to move the fastest,” said Amarillo National Bank President William Ware.
Loans will be issued through the payment protection program of the Care Act.
Congress will vote on Friday for the two trillion dollar stimulus package, and it is expected to pass.