PPP Loan Program, Covid-19, and Other Updates
Never promise what you can’t deliver. These are the words we bank on. At American Business Bank, people are our greatest asset. We believe in building honest relationships — not client rosters — and we work relentlessly to protect our clients’ interests, while driving their businesses forward through strong balance sheets and stable practices.
By taking the right action, we can provide the financial resources businesses need to thrive. That trust derives from our ability to analyze the elusive and dynamic intricacies of today’s marketplace, and advise our clients on a clear and informed path forward.
Our philosophy of putting our clients and employees first has consistently benefited our shareholders since we started ABB. In an industry where it’s common to be both inactive and reactive, we believe in accessibility, action and accountability; it’s why our clients trust us for consul and results, and how we achieve long-term success together.
As strategic partners, we roll up our sleeves, lead with action and share success side-by side. Our passion is driven by knowledge, that’s why we stay educated on cutting edge industry trends and economic news, as well as cyber security and internet fraud measures that directly impact our clients’ businesses.
SBA BORROWERS – IMPORTANT NOTICE: In accordance with section 1112(c) of the CARES Act, over the past six months, SBA has been paying loan payments owed on loans in “regular servicing status.” This included SBA 7(a), SBA Express, and the 2nd Trust Deed Debenture on SBA 504 loans. For most borrowers, this started with the April 2020 loan payment, and will end with the September 2020 loan payment. Starting in October 2020, these borrowers will need to start making payments again. Also, ACH and Auto-Pay features for these loans will resume.
AMERICAN BUSINESS BANK