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Paycheck Protection Program: Program Overview

SMALL BUSINESS PAYCHECK PROTECTION PROGRAM

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

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Paycheck Protection Program: Program Fact Sheet

PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET: BORROWERS

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone.

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A Message Regarding Paycheck Protection Program Loan Forgiveness Terms

Since the inception of the Paycheck Protection Program (“PPP”) on April 4, Adirondack Bank has provided PPP funding of $75.2 million to 779 businesses and not-for-profit organizations in the Mohawk Valley and the Central and Northern regions of New York State. We are honored and proud to provide these organizations with this critical financing and are hopeful that it provides the financial support needed by these organizations to withstand this difficult time.

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FDIC: Insured Bank Deposits are Safe; Beware of Potential Scams Using the Agency's Name

In light of recent developments related to the coronavirus, the Federal Deposit Insurance Corporation (FDIC) is reminding Americans that FDIC-insured banks remain the safest place to keep their money. The FDIC is also warning consumers of recent scams where imposters are pretending to be agency representatives to perpetrate fraudulent schemes.

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