Business

Resources for Our Business Customers

***PLEASE VISIT THIS PAGE REGULARLY – INFORMATION IS CHANGING AND WE WILL MAKE UPDATES AS APPROPRIATE***

State Bank of Cross Plains CARES about its business customers, and we want to make sure that you’re aware of all the tools that you have at your disposal, to support your operation and your employees. Every business is unique, so please review the following information to find the program best suited to helping yours.

As a U.S. Small Business Administration Preferred Lender, State Bank of Cross Plains is well positioned to help your operation with any funding assistance it may need. Right now, the SBA is:

To learn more about these developments and their availability to you – as well as anything pertaining to the #PaycheckProtectionProgram (#PPP) – please continue to reference this page or contact our Customer Support team at 608.798.2400 today.

Resource Links

Paycheck Protection Program (PPP)

 

The PPP Application deadline has been extended to May 31, 2021. We will continue to process applications until this deadline or until PPP funds run out. It is anticipated that funding may run out prior to the deadline, so we advise applicants to submit as soon as possible!

 
 
EFFECTIVE 3/4/2021 - PPP TEMPORARY CHANGES

QUALIFIED APPLICANTS MAY NOW APPLY USING A NEW METHOD OF CALCULATING THE LOAN AMOUNT – USING GROSS INCOME VERSUS NET INCOME - AND OTHER ELIGIBILITY REQUIREMENTS CHANGED

To determine whether you qualify, please click here. If you have already applied and have been approved by SBA for a PPP loan in 2020 or 2021, you may not reapply using this new calculation method or for other changes to program


***ALL PPP APPLICANTS: PLEASE READ THROUGH BEFORE APPLYING FOR A LOAN***


Is this your first time applying for a PPP loan? If yes, reference the following -

check markSAMPLE First Draw PPP Application (DO NOT SUBMIT – apply online below)>>

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SAMPLE First Draw PPP Application -Schedule C Filers using Gross Income (DO NO SUBMIT – apply online below) >>

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Summary for First Draw PPP Applicants from SBA >>

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Loan Amount Calculation Worksheet (Assist in determining loan amount and documentation required to support request) >>

check markPPP 1st Time Loan Amount Calculations >>

check markPPP-Economic Aid Act FAQs >>


Did you receive PPP funds in 2020? If yes, reference the following –

check markSAMPLE Second Draw PPP Application (DO NOT SUBMIT – apply online below)>>

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SAMPLE Second Draw PPP Application -Schedule C Filers using Gross Income (DO NO SUBMIT – apply online below) >>

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Summary for Second Draw PPP Applicants from SBA >>

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PPP 2nd Draw Loan Amount Calculations >>

check markSecond Draw PPP FAQs >>


Are you eligible to increase your first PPP loan received in 2020? If yes, reference the following –

*IF YOU ALREADY RECEIVED FORGIVENESS AND PAYMENT FROM SBA ON YOUR FIRST PPP LOAN, YOU ARE NOT ELIGIBLE TO APPLY FOR AN INCREASE*

check markFirst Draw Paycheck Protection Program Loan Increase Guidelines>>

check markHow to Apply For Increase to First Draw PPP Loan >>

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PPP Application-Increase first PPP loan>>



GETTING STARTED

Review BEFORE applying for First and Second Draw PPP loan via link below :

    • Please use GOOGLE CHROME or FIREFOX for your internet browser (other browsers are not supported). Browser versions one year old or less will work best.
    • The first step is a simple account creation, for your application.
    • Only a single email address can be used at this time for account creation - if multiple businesses applying , then each will need a unique email address for account creation. (This does NOT apply to email addresses listed within the application that we will use for future correspondence regarding the application.)
    • Please be sure to read through all sections of the application carefully and utilize the tips within the online application- Click here for additional application hints 
    • Prepare to have all documentation ready to upload with your application to support the loan amount being requested. Required documents will be identified within the online application.
    • You can exit your application and log back in later if you are unable to entirely complete initially.
    • At the end of the application, you will be asked click a button that prompts an email from DocuSign - given current volume, that email may not be immediately sent. If you do not receive that email by the end of the day, please contact your lender or our customer care center.
    • Review the resources and tools below for guidelines on eligibility and calculating your loan amount to ensure you complete your application correctly.
    • Separate access cannot be given to accountants or bookkeepers at this time
    • If not currently a client of SBCP, you will be required to open a deposit account with us prior to funding the PPP loan funds. Please be prepared to provide Filed Articles of Organization, organizational documents identifying owners and authorized persons to borrow, and a copy of driver's license for all owners and authorized signers at time of application.

WHAT TO EXPECT

    • You will be notified via email by an SBCP associate when your application has been submitted to SBA for approval.
    • It could take a week or more after submission for SBA to approve your application.
    • You may log back into your application account at any time to review the status of your application.
    • Once approved, your request will move to closing and you will be issued closing documents to sign before receiving your funds.

ALL QUESTIONS CAN BE DIRECTED TO YOUR SBCP LENDER OR OUR CUSTOMER CARE CENTER AT (608) 798-2400.

Click here to apply

Due to the large volume of applications being submitted, you may experience the online application system running slow, or it may time out. If this occurs, then please try again. We appreciate your patience.


Resources 


In the meantime, please reference the following information to prepare - 

NOTE: As directed by SBA guidelines, State Bank of Cross Plains is not required to bear any costs, nor will it enter into any agreements with third parties (including accountants and lawyers) to bear any costs, to assist PPP borrowers with the PPP loan or loan forgiveness process. If a borrower chooses to work with a third-party accountant, lawyer, or other entity on their behalf, any contracts, obligations, or costs borne by these agents is the sole responsibility of the PPP borrower.

PPP Forgiveness -SBCP is now accepting applications for PPP loan forgiveness for all eligible PPP borrowers


How to apply for forgiveness of your PPP loan received in 2021

All applications for forgiveness will be submitted through the online application system used to apply for your PPP loan earlier this year.

check markWhen and how do I apply for forgiveness? >>

check markApplication Hints >>

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PPP Loan Forgiveness FAQs (3-5-2021)>>

check markSample – Online application for 3508S form >>

check markSample – Online application for 3508EZ form >>

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Sample – Online application for 3508 (full) form >>

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How to add additional users to complete application >>



How to apply for forgiveness of your PPP loan received in 2020?

SBCP began accepting applications for forgiveness of PPP loans on 8/11/2020. If you have not yet applied for forgiveness, you can follow the instructions below to access your online application or you may contact your lender or our Customer Support team at 608-798-2400 to request assistance.


IMPORTANT – If you do not apply for and receive approval by SBA for forgiveness of your PPP loan received in 2020 within 16 months of the date you received your funds (disbursement date), your loan payments will no longer be deferred and your loan will automatically be converted to require you to make monthly payments to pay off the loan.


Please reference the following resources:

SBA Economic Injury Disaster Loans 

Learn more about an Economic Injury Disaster Loan on the SBA’s website here.

For questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail  disastercustomerservice@sba.gov. 

Click the links below for additional guidance on the following topics:

Dane County Small Business Pandemic Support Program - Round 2 


The Dane County Small Business Grant Program - Round 2 is available for small businesses experiencing financial difficulties because of the COVID-19 outbreak.

Small business owners throughout the community are encouraged to submit applications. To apply, please click here.

Please contact Colin Murray at colin@danebuylocal.com with any questions.

Additional Resources

 

Here is a small list of additional resources that we feel might be of benefit to you.