Federal Government Assistance Programs

Cares Act and Paycheck Protection Program (PPP) 

Embassy National Bank’s lending team is participating in the Small Business Administration’s initiative to help small businesses in our community with the Paycheck Protection Program (PPP) as outlined in the CARES Act. Our team of government guaranteed loan officers and loan closers are experienced Preferred SBA lenders, designated by the Small Business Administration and consistently ranked as a top performing SBA 7(a) lender in Georgia. The Preferred SBA lender designation creates a borrowing process that expedites loan approvals.

Program Overview

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.


Who Can Apply?

This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.  Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.  Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible.

Maximum Loan Amount

2.5x average monthly payroll costs or $10 million, whichever is less.

Eligible Payroll Costs: 

  • Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee);
  • Employee benefits including costs for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal;
  • Payments required for the provisions of group health care benefits including insurance premiums and payment of any retirement benefit;
  • State and local taxes assessed on compensation of employees;
  • For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee.

PPP Loan Terms

The loan has a maturity of 2 years and an interest rate of 1%. 

Loan Details and Forgiveness:

Loan funds will be deposited into a new small business deposit account with Embassy National Bank.  The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll).  Loan payments will also be deferred for six months.  No collateral or personal guarantees are required.  Neither the government nor lenders will charge small businesses any fees.  The required deposit account will be a service charge free checking account with free online banking and mobile banking access.

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

Embassy National Bank will request loan forgiveness from the Small Business Administration on our clients’ behalf after funds in the small business deposit account are exhausted and after verifying the loan funds were used for eligible purposes.  It is the responsibility of the small business to provide all requested documentation in a timely manner.  

Loan forgiveness is at the sole discretion of the Small Business Administration and not Embassy National Bank’s.  The borrower assumes responsibility for the proper use of funds and supplying all requested documents to Embassy National Bank. 


COVID-19 Business Continuity Resource Center

SBA & Related Programs

The state of Georgia is now listed on the SBA Disaster website as a declared state for Coronavirus (COVID-19). Those affected in the state of Georgia can now apply for disaster assistance online (the preferred method to monitor progress) or by mail.

  • Apply online at: sba.gov/disaster (there is no cost to apply.)
  • Apply by mail: Download application from sba.gov/disaster and mail:
    U.S. Small Business Administration
    Processing and Disbursement Center
    14925 Kingsport Road
    Fort Worth, TX 76155
  • Disaster customer service can be reached at: 1-800-659-2955 or disastercustomerservice@sba.gov

Embassy National Bank is actively monitoring developments and guidance around the spread of the novel coronavirus (COVID-19). Our COVID-19 preparedness is coordinated as part of our bank-wide business continuity efforts and is intended to allow us to support our clients’ needs with minimal disruption in the event of a pandemic outbreak.

Top of mind is the health and welfare of our employees, clients and partners. As a result, we have enacted the following precautionary measures, among others: Quarantining employees who have traveled to countries with Level 3 or higher travel advisories by the U.S. State Department, where there are pronounced COVID-19 outbreaks. Additionally, we have taken the following preventative steps.

  • Limiting domestic business air travel

  • Asking employees who exhibit flu-like symptoms to stay home
  • Enabling our employees to work remotely
  • Engaging our vendors and suppliers about their business continuity protocols to mitigate service interruptions and to ensure they are practicing prudent preventive measures
  • Doing all we can to keep our employees abreast of COVID-19 developments

Currently, we are not experiencing unusual employee absenteeism and are conducting business as usual. As this is a rapidly changing situation, we will continue to keep you apprised as we know more.

Emergency Loans for Small Business

Keep your workers employed amid the coronavirus pandemic. Get 100% federally guaranteed loans for your small business. Click the icon to learn more.

Advice & Guidance for Dealing with COVID-19

Visiting Embassy National Bank

If you are visiting our office and or branch location, we respectfully ask visitors who have flu-like symptoms or have traveled to these countries (China, Iran, South Korea and or Italy) in the past 14 days that have a Level 3 or higher travel advisory by the U.S. State Department to meet instead by phone or conduct business via our drive thru. Please contact your banker to make the proper arrangements. We appreciate your support in maintaining a safe and healthy workplace environment.


Please contact your Embassy Universal Banker or Branch Manager directly at 770-822-9111 or via email customerservice@embassystaging.wpengine.com.

COVID-19 Update is a publication of Embassy National Bank. It is not intended to contain or constitute accounting, investment or legal advice and should not be relied upon for such purposes.

For additional information about COVID-19, get the latest report from the Centers for Disease Control at cdc.gov or your local health department website.


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