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

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, which provides $284 billion to be used for first and second Paycheck Protection Program forgivable small business loans. The U.S. Small Business Administration (SBA) has issued the necessary rules for banks and borrowers to follow, and we are ready to begin taking applications.

We are currently only accepting applications from customers who have at least one account relationship with us opened on or before January 11, 2021.

If you are a customer, 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 two applications depending on your status as a first or second-time borrower:

I have never had a PPP Loan

I received a PPP Loan in 2020

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 application for the Paycheck Protection Program for first-time borrowers.

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: Paycheck Protection Program Website

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