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PPP Loans

Community Bank is proud to participate in the PPP program. Whether you're applying for a PPP Loan for the first or second time, we are here to answer your questions and guide you through the application process.

4/27/21 Update: Please note, our online application portal is no longer available for the submission of applications, however if you are interested in applying for a first or second draw PPP loan, please reach out directly to your local banker for assistance.

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Please note: Community Bank will only be accepting applications for PPP funding from our current/existing customers.

Additional PPP Application Resources

Note to Agents:

Community Bank is not working with third-party agents on Paycheck Protection Program (PPP) loans. Community Bank works directly with the borrower on all aspects of the PPP loan program. Community Bank will not pay fees to any individual or firm claiming to be a borrower’s agent in connection with the origination of a PPP loan or the application for PPP loan forgiveness.

Applying for the first time?
Initial PPP Loan (First Time Draw)

If you are an existing customer and are applying for your first PPP loan (never before applied for relief funding through any financial institution), please use our "First Draw" application within our online portal.

Eligibility:

An applicant is generally eligible for an initial PPP Loan if:

  • In operation on February 15, 2020
  • Has not previously received a PPP Loan (from Community Bank or another financial institution); and
  • Has no more than 500 employees
  • *Additional eligibility requirements apply, please visit the SBA's PPP website for more details

Max Loan Amount & Term:

  • 2.5X average monthly payroll, up to $10 million ($20 million corporate group cap)
  • 5-year term

Eligible Expenses:

  • Payroll costs
  • Business rent & lease agreements
  • Business mortgage interest
  • Business utility payments
  • Covered operational expenditures
  • Covered personal protective equipment (PPE) expenses
  • Covered property damage expenses
  • Covered supplier expenditures
Applying for a second round of funding?
Second PPP Loan (Second Time Draw)

If you are an existing customer and applying for a second round of PPP funding (having received first round funding in the spring of 2020 from Community Bank or another financial institution), please use our "Second Draw" application within our online portal.

Eligibility:

An applicant is generally eligible for a Second PPP Loan if the borrower:

  • In operation on February 15, 2020
  • Previously received a PPP Loan (from Community Bank or another financial institution) and will or has used the full amount only for authorized uses by the date of disbursement of the Second PPP Loan;
  • Has no more than 300 employees combined with affiliates (unless NAICS beginning with 72, then 300 per location); and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020; or if in operations for all of 2019, you may use annual gross receipts
  • Has not nor plans to receive a Shuttered Venue grant
  • *Additional eligibility requirements apply

Max Loan Amount & Term:

  • 2.5X average monthly payroll, up to $2 million ($4 million corporate group cap)
  • 3.5X average monthly payroll for Accommodations & Food Services loans (NAICS code 72), up to $2 million
  • 5-year term

Eligible Expenses:

  • Payroll costs
  • Business rent & lease agreements
  • Business mortgage interest
  • Business utility payments
  • Covered operational expenditures
  • Covered personal protective equipment (PPE) expenses
  • Covered property damage expenses
  • Covered supplier expenditures

We will have an easy-to-use online application portal where you can apply and upload the required documents. Community Bank will activate the portal as soon as the SBA allows us to do so. Continue to check this webpage for updates. If you run into any problems while submitting your application, please reach out to your lender or local business banker.

On January 8, the SBA announced that it will initially open up to only community financial institutions and small lenders on Monday, January 11, in an effort to better serve smaller borrowers and borrowers in underserved communities. All remaining lenders, including Community Bank, will be able to participate shortly thereafter. We are ready to activate our portal as soon as we receive permission from the SBA. Read the full alert from the SBA here.

In some cases, yes, your supporting documentation will carry over from your first loan application. However, you will be required to complete new SBA forms and sign new certifications. You are encouraged to gather documentation as if you were applying for the first time, as some documentation requirements are different.

Former Steuben Trust Company (STC) customers will need to reapply and submit all supporting documentation in full, using the second draw application form in our portal.

Existing customers who applied for first round funding through other financial institutions (not Community Bank) also will need to reapply and submit all supporting documentation in full.

General eligibility requirements are as follows:

  • You received a first PPP loan
  • You must have used the full amount of your first PPP loan for authorized uses by the expected date of disbursement of your second draw PPP loan.
  • You must have 300 or fewer employees. If you are an employer in accommodation or food services (NAICS code starting with 72), you may have 300 employees at each of your business’s physical locations.
  • Your business must be able to demonstrate a revenue reduction of 25% or greater in 2020 relative to 2019. This is calculated by comparing your quarterly gross receipts for one quarter in 2020 with your gross receipts for the corresponding quarter of 2019.
  • Your business cannot be permanently closed. If your business has temporarily closed or suspended, you are eligible.
  • Eligible business types include for-profit businesses, certain non-profits, independent contractors, sole proprietors, tribal businesses, and small agricultural coops.
  • *Additional eligibility requirements may apply, please visit the SBA's PPP website for more information

No. However, you must have used (or will use) the full amount of the initial PPP loan for authorized purposes on or before the expected date of disbursement of the Second Draw PPP loan.

Yes, you can still obtain a PPP loan for the first time. Details and requirements vary slightly from the Second Draw program; please review the first draw information outlined above.

Yes – so long as your business is temporarily closed or suspended and plans on reopening. Businesses that are permanently closed are ineligible from receiving a Second Draw PPP loan.

It could be the same, but there are a few differences to the program requirements that may result in a different loan amount. Most importantly, accommodation and food services businesses (NAICS codes beginning with 72) are now eligible for 3.5x their average monthly payroll (this compares to First Draw PPP loans which were based on 2.5x average monthly payroll).

Further, the regulations allow for three ways of calculating your business’ average monthly payroll. You can choose what works best for you, and the calculation may be different than what was used for your First Draw PPP loan application.

The average monthly payroll calculation may be based on one of the following methods (please note that businesses that began operating in 2019 and/or seasonal businesses have separate distinct calculations):

  • Payroll costs during Calendar Year 2019
  • Payroll costs during Calendar Year 2020
  • Payroll costs during the twelve-month period prior to when the loan is made

There are three ways of calculating your business’ average monthly payroll. You can choose the method that works best for you. The average monthly payroll calculation may be based on one of the following methods (please note that businesses that began operating in 2019 and/or seasonal businesses have separate distinct calculations):

  • Payroll costs during Calendar Year 2019
  • Payroll costs during Calendar Year 2020
  • Payroll costs during the twelve-month period prior to when the loan is made

To calculate your decline in revenue, compare your quarterly gross receipts for any quarter in 2020 with the applicant’s gross receipts for the corresponding quarter of 2019.

For example, a borrower with gross receipts of $50,000 in the second quarter of 2019 and gross receipts of $30,000 in the second quarter of 2020 has experienced a revenue reduction of 40% between the quarters and is therefore eligible for a Second Draw PPP loan (assuming all other eligibility criteria are met).

Do NOT include the proceeds from your first PPP loan in your gross receipts/revenue figures.

If you were open in all four quarters of 2019, you can also compare your revenue to all of 2020 and submit copies of your annual tax forms that substantiate the revenue decline.

You will be required to supply documents that prove that your business experienced a revenue reduction of 25% or greater in 2020 relative to 2019. These documents may include relevant tax forms, including annual tax forms or quarterly financial statements or bank statements. It is your responsibility to provide clear documentation and support of the 25% or greater decline in revenues.

If you spend your PPP loan according to SBA’s guidelines, it will be forgiven. The general guidelines are as follows:

  • 60% of your loan must be spent on payroll costs
  • The remaining 40% may be spent on other costs that include rent and utilities, interest on mortgages and other loans, refinance of an SBA Economic Injury Disaster Loan (EIDL) made between January 1, 2020 and April 3, 2020.
  • Payment for any software, cloud computing, and other human resources and accounting needs
  • Costs related to property damage due to public disturbances that occurred during 2020 that are not covered by insurance
  • Payments to a supplier pursuant to a contract, purchase order, or order for goods that were in effect prior to receiving the PPP loan that are essential to your operations when the payments were made. Supplier costs for perishable goods can be made before or during the life of the loan
  • Personal protective equipment and costs that you incurred to help your business comply with Federal, State, or local requirements beginning on March 1, 2020

Please note that as your lender, Community Bank is not able to provide in-depth or customized advice on loan forgiveness. We encourage you to speak with your accountant or attorney about specific questions. You may also visit our more detailed PPP forgiveness page.

SBA has designated that businesses with North American Industry Classification System (NAICS) code beginning with 72 (Accommodation and Food Services) qualify for a larger loan amount based on a calculation of 3.5x the average monthly payroll.

The NAICS code included on your PPP application must match the code provided on your most recent IRS income tax filings in order to meet SBA requirements. Please review your business tax returns or consult with your accounting professional before applying if you believe your business is eligible for the larger 3.5x calculation. Only businesses which report a NAICS code beginning with 72 as its business activity code on its most recent IRS income tax return are eligible to use the 3.5x calculation.

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