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PAYCHECK PROTECTION LOANS FOR BUSINESSES

We appreciate that you have come to First National Bank for your small business needs.

The second round of the Paycheck Protection Program has been extended to May 31, 2021. We are accepting applications from customers who have at least one account relationship with us opened on or before January 11, 2021 and from new customers whose businesses are within 30 miles of one of our branches and meet one or more of the following:

  1. located in a low- or moderate-income census tracts
  2. owned by women, minorities or veterans

If you qualify to apply, click here to start the process by answering a few simple questions. This will take less than 5 minutes. While you are waiting for us to get back to you, please begin completing one of the four applications depending on your status as a first or second-time borrower:

I have never had a PPP Loan, and I plan to use IRS Form 1040, Schedule C Gross Income

I have never had a PPP Loan (all other)

I received a PPP Loan, and I plan to use IRS Form 1040, Schedule C Gross Income

I received a PPP Loan in 2020 (all other)

In order to submit this application, you will need to print, initial and sign the application.

In addition to your application, you will be asked to provide documentation of your average monthly payroll and the number of full-time employee equivalents on February 15, 2020. The rules allow you to use either 2019 or 2020 to determine average monthly payroll depending on which is more favorable. The following documentation is commonly provided:

  • IRS Form W3;
  • IRS Form 941 and/or Iowa Quarterly Employees Contribution to Payroll Report for all of 2019 or 2020 (if completed);
  • Payroll information on other payroll costs (e.g., retirement, insurance, severance) which are typically obtained from a Payroll Service or accountant; and
  • A Payroll statement or similar document from the pay period that covered February 15, 2020, to establish you were in operation on that date.
  • NOTE: Borrowers who are self-employed or independent contractors should provide a 2019 or 2020 Tax Return with all schedules including Schedule SE.
  • Additional information may be necessary depending on the circumstances.

Click Here to complete the PPP Loan for first-time borrowers who plan to use IRS Form 1040, Schedule C Gross Income

Click Here to complete the application for the Paycheck Protection Program for first-time borrowers

Click Here to complete the PPP Loan for second-time borrowers who plan to use IRS Form 1040, Schedule C Gross Income

Click Here to complete the application for the Paycheck Protection Program for second-time borrowers

Helpful Links:

Paycheck Protection Program First Draw Loans Overview (pdf)

Paycheck Protection Program Second Draw Loans Overview (pdf)

NAICS Code Website: https://www.naics.com/search/

SBA.gov Paycheck Protection Program Website  https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

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