Coronavirus / CARES Act Resources


BKD Webinar 12/28/2020 on COVID Stimulus Law

ABA List of Bank Initiatives in Excel Worksheet

Get My Payment web application to track the status of your payment.

SBA Final Rule as of 04/03/2020

Posted 03/31/2020 - A key provision of the CARES Act is the new Paycheck Protection Program (PPP), which will authorize Preferred SBA lenders to make loans to small businesses through the SBA 7(a) loan program. Qualified businesses and non-profits with fewer than 500 employees can qualify for a 100% SBA-guaranteed loan to be used for payroll (including salaries, paid sick or medical, insurance premiums), mortgage, rent and utility payments for a period of time. SBA Preferred Lenders will serve as lenders for the CARES Act and guide and support borrowers throughout the process.

Banks will be focused in the upcoming days and weeks will be to gather information and help you understand how this program may be of benefit to you and your business. The specific details of the CARES Act are in final development and will be released in the very near future.


Applications to Begin April 3


The Treasury Department today issued much-anticipated guidance for the Paycheck Protection Program, which, starting this week, will provide up to $350 billion in forgivable loans to help small businesses maintain payrolls during the COVID-19 pandemic. The Small Business Administration (SBA) will fully guarantee PPP loans and waive its guaranty fees.


All banks, as well as a broad range of nonbanks, are eligible to make PPP loans. Banks that have not yet been certified with the SBA should submit an application to This email address is being protected from spambots. You need JavaScript enabled to view it.. The SBA will process these applications quickly, and newly enrolled SBA lenders will be able to process applications as soon as Friday, according to a senior administration official. The Treasury Department guidance linked to below outlines the limited underwriting requirements and lender compensation structure for the PPP loans.


Small businesses and sole proprietorships may apply for PPP loans starting on Friday, April 3, and independent contractors and self-employed workers can apply starting April 10. Your customers can begin filling out the application today.

Read the information sheet for lenders.

Read the information sheet for borrowers.

View the application form.

For more information,


The Illinois Bankers Association provides all banks with this CARES Act pdf document. It outlines important information regarding Paycheck Protection Program Loans.


For more information, visit their Coronavirus Resource Page.

  1. Learn more about the CARES Act.
    1. US Chamber of Commerce Guide
    2. CARES Act
    3. SBA COVID-19 Resources
  2. Applicants should gather the materials that will be necessary for application.
    1. Documentation verifying the number of full-time employees on payroll and pay rates via:
      1. Payroll tax filings reported to the IRS
      2. State income, payroll, and unemployment insurance filings
    2. Financial or bank statements to prove mortgage, lease, or utility payments
  3. Be aware of scams
  4. Hunton Andrews Kurth Client Alert - Can Banks Offset Against Stimulus Checks?