Running a Business

No. There is no personal guarantee requirement. ***However, if the proceeds are used for fraudulent purposes, the U.S. government will pursue criminal charges against you.***

These loans have a fixed rate of 1.00% for 2 years. All payments are deferred for 6 months; however, interest will continue to accrue over this period. There are no prepayment penalties or fees for paying your loan early.

You can submit a request to the lender that is servicing the loan including a completed Loan Forgiveness Application. The request will include documents that verify the number of full-time equivalent employees and pay rates, as well as the payments on eligible mortgage, lease, and utility  obligations. You must certify that the documents are true and that you used the forgiveness amount to keep employees and make eligible mortgage interest, rent, and utility payments. The lender must make a decision on the forgiveness within 60 days. 

You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs.  Please reference our guide to forgiveness. 

You will also owe money if you do not maintain your staff and payroll.

• Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time employee headcount.
• Level of Payroll: Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019.
• Re-Hiring: You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020.

SWIFT Code: UNTUUS42

To assist our customers living abroad or with family members who live outside of the United States, we have an International Wire SWIFT Code. Use the information below to send a wire to a Union Bank & Trust account:

1. Receiving Bank: Union Bank & Trust Co.
2. SWIFT Code: UNTUUS42
3. Beneficiary: Union Bank & Trust Co. Account Name
4. Address: Union Bank & Trust Co. Account Address
5. Account Number: Union Bank & Trust Co. Account Number

A patient account financing program helps your patients in the following ways: 

• Manageable monthly payments
• Patients able to add to their existing loan
• Every patient is treated with a high level of respect and integrity