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For important information about Economic Impact Payments (EIP) or the Paycheck Protection Program (PPP), and our COVID-19 response, click Learn More.

CARES Act Signed into Law

Laurel Sykes's picture

American Riviera Bank remains committed to assisting our customers during this challenging time.  We know you likely have questions about your existing loans with ARB, and we continue to receive questions on how to access the multitude of government loan programs being made available.  Please know that we will provide you with more details on these programs as soon as we are able.  For our SBA loan customers, the SBA’s Economic Injury Disaster Loans (EIDLs) are already available by applying directly through the SBA.  Please visit our blog post from earlier this week here for information and resources to assist you in applying for an EIDL.

You may also be hearing in the news and local media about the CARES Act that was just signed into law by the President, a 880-page bill that includes a variety of provisions including new loan programs and the potential for unlimited FDIC insurance on non-interest bearing checking accounts.  It is unclear what amendments might still be made over the coming days and we remain dependent on the agencies to issue implementing regulations before detailed information can be made available.  The SBA will also be issuing specific criteria for the Payroll Protection and 7(a) relief loans they will be administering through banks under the Act.  We appreciate the interest we have received from our clients thus far; however, we must await their guidance before rolling out formal programs.  You should also be aware that borrowers with a current EIDL related to COVID-19 may not also be eligible for a 7(a) relief loan.  For real-time notification of our loan programs once they become available, please sign up for our customer newsletter here.  You can also visit our COVID-19 resource page here.  We wish you a restful weekend, and look forward to updating you soon with more details.