Effective March 23, we will be closing our lobbies to general customer traffic. All drive-ups and walk-up will remain open.
Loan Officers, New Accounts and Bookkeeping will still be available by phone.
We encourage you to use our on-line banking and mobile banking applications. Visit lbandt.com to sign-up for these convenient services.
Limited access to our lobbies may be granted for special requests. Please contact your branch to schedule an appointment.

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Logan Bank and Trust's Response to COVID 19

Notice to Customers Effective March 23, 2020

Logan Bank and Trust's Response to COVID 19

 

SBA Application Form 

 

SBA Paycheck Protection Program Highlights

As of Friday, March 27, 2020, the Federal Government passed the CARES Act (Coronavirus Aid, Relief and Economic Security). This is part of a $2 trillion economic stimulus package. Part of this package includes the Paycheck Protection Program a $350 billion, and the Small Business Administration loan program which is under 7(a) lending programs, with a 100% government guarantee.

More details about the program from the Small Business Administration (SBA) have not been announced as of yet. We are waiting for more information to be presented and when we know more, we will let you know.

Program Overview

The Paycheck Protection Program provides incentive for small businesses to keep their workers on the payroll by providing each small business a loan up to $10 million for payroll and other expenses such as employee salaries, paid or sick medical leave, insurance premiums, mortgage interest, rent, and utility payments.

Eligibility

Businesses – including eligible non-profits, Veterans organizations, Tribal concerns, sole proprietorships, self-employed individuals, and independent contractors described in the Small Business Act – with 500 or fewer employees may apply.

Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.

Borrower must make a good faith certification the loan is necessary due to the uncertainty of current economic conditions caused by COVID-19, and funds will be used for worker retention and maintain payroll, lease and utility payments.

More Information will be made available as it becomes known. Thank you for your patience.

 

SBA Application Form 

 

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Visit the IRS Payment Status page by clicking the button below:

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