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Business Administration Loan tools to Help small enterprises and users throughout the

Business Administration Loan tools to Help small enterprises and users throughout the

NCUA LETTER TO CREDIT UNIONS

NATIONWIDE CREDIT UNION ADMINISTRATION 1775 Duke Street, Alexandria, VA 22314

Dear Boards of Directors and Ceos:

On March 27, 2020, President Trump finalized the help, Relief, and Economic Security (CARES) Act into legislation. The CARES Act provides $349 billion in assist with small enterprises, some of that are dealing with difficulty that is economic to social distancing, shelter-in-place instructions, along with other measures made to stem the . An overview is provided by this letter associated with PPP and details about the SBA’s Economic Injury tragedy Loan (EIDL) system. Please make reference to the interim rule that is finalopens brand brand new screen) to get more details.

The U.S. small company management (SBA) issued an interim rule that is finalstarts new screen) that describes one of the keys conditions associated with Paycheck Protection Program (PPP) (opens brand brand new screen) on April 2, 2020.