Resources for Our Business Customers



State Bank of Cross Plains CARES about its business customers – always has, always will. We realize that the challenges posed by the onset of the coronavirus pandemic have been as disruptive to your operation as they have been unanticipated, and we want to make sure that you’re aware of all the tools that you have at your disposal, to support your business and your employees.

We're committed to being your primary resource for support, helping you navigate through this crisis every step of the way. If they haven’t been already, our bankers will be in touch to discuss your situation and walk you through options to mitigate the negative impact that the pandemic has had on your business. Given our size, network, and capabilities, State Bank of Cross Plains is well positioned to assist. As a Preferred Lending Partner of the U.S. Small Business Administration (SBA), we can facilitate processes to help you get loans done quicker.

Every business is unique, so finding the program best suited to helping yours will depend on a number of factors.

Click here for a chart that presents details on the various loan types and programs offered by the SBA.


Paycheck Protection Program (PPP)

Key Point: The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided $350 billion of small business “paycheck protection” loans through the SBA 7(a) program. The Paycheck Protection Program and Healthcare Enhancement Act of 2020 provides a second chance for relief to borrowers who were unable to secure loans before funding of the initial program was exhausted. The maximum loan size is $10 million. 

Update 9/11/2020
State Bank of Cross Plains as directed by the SBA guidelines is not required, nor will SBCP enter into any agreements with 3rd parties including accountants and lawyers or bear any costs to assist PPP borrowers with PPP loan or loan forgiveness process.  If a borrower chooses to work with a 3rd party accountant, lawyer or other entity on their behalf, this, any contracts, obligations or costs borne by these agents is the sole responsibility of the PPP borrower.

Update 8/10/2020
The time has finally come! We will begin accepting PPP loan forgiveness applications tomorrow, Tuesday, August 11.

Each PPP loan customer will receive an email containing a link to their individual application. This email will come from (generated by SBCP).

There are two applications available to use (SBA Form 3508 and SBA Form 3508EZ), and it is imperative that you read the instructions carefully before choosing your application.

Your application will be pre-filled with many of your loan details and much of your borrower information. You must follow the directions provided to complete your application and upload the required documentation.

Once in your application, you will see a link to a KNOWLEDGE CENTER. This area will provide you a multitude of information and resources that will assist you in completing your application and submitting the proper supporting documentation. If you are unable to find answers to your questions there, your assigned lender’s contact information will be included in the email you receive.

We will start sending out individual emails beginning tomorrow, Tuesday, August 11, and continuing over the next two weeks, beginning with loans funded on April 14, which was the first day of funding. With requirements mandated by the SBA, we are managing the amount of emails that are sent out in order to process applications efficiently. We will continue to send emails over time as your loan funding date and covered period approaches.

As a reminder, the SBA did change its requirement of using your PPP funds from an 8-week period following the date your loan was disbursed (i.e., funded) to an option of up to 24 weeks. SBA also changed the requirement for use of proceeds from a minimum of 75% for payroll to a minimum of 60% used for payroll. Please keep this in mind as you prepare to apply for loan forgiveness. 


Congress has once again revised the Small Business Administration’s Paycheck Protection Program (PPP) through amendments made to the CARES Act by the recently enacted PPP Flexibility Act. The newest revisions, signed into law June 5, 2020, modify certain provisions related to the forgiveness of loans made under the PPP, allow recipients of loan forgiveness to defer payroll taxes, and for other purposes, including the following:

Maturity Extended to 5 Years
Loans under the PPP allow for the borrower to request forgiveness of that portion of the loan that was used during a covered period for certain payroll costs and business expenses. For the loan amount not forgiven under the program, the borrower had 2 years to repay the remaining balance. Under the PPP Flexibility Act, the repayment period has been extended from 2 years to 5 years after application of forgiveness.
The applicably of new maturity term is backdated to the enactment of PPP; however, for PPP loans that have already closed, based upon language in the PPP Flexibility Act, WBA believes both lender and borrower need mutually agree to modify the loan maturity term from 2 years to 5 years before the 5-year term will apply to the previously executed PPP loan.

Covered Period Extended
Borrowers were permitted to spend PPP loan proceeds for 8 weeks, beginning on date of loan disbursement. This time period was referred to a the “covered period”. The PPP Flexibility Act has extended the covered period from 8 weeks to 24 weeks; the period cannot go past December 31, 2020. This provision is also backdated to the enactment of PPP, however, a borrower who previously received a PPP loan may elect keep the original 8-week covered period.
The PPP Flexibility Act also corrected a technical issue that was created when Congress added funding to the PPP because original 8-week covered period had run beyond the original June 30, 2020 program termination date. To correct the timing issues, the PPP is now extended to the earlier of December 31, 2020 or the date program funding has expired.

Exemption Based on Employee Availability
New flexibility has been given to determine full-time equivalency (FTEs) for loan forgiveness calculations. During the period beginning on February 15, 2020 and ending December 31, 2020, the amount of loan forgiveness is to be determined without regard to a proportional reduction in the number of FTEs if a borrower, in good faith can document:

  • The inability to rehire individuals who were employees of the borrower on February 15, 2020; and
  • An inability to hire similarly qualified employees for unfilled positions on or before December 31, 2020; or
  • Is able to document an inability to return to the same level of business activity as was operating before February 15, 2020, due to compliance with requirements established or guidance issued by Secretary of Health and Human Services, the Director for CDC, or OSHA during a period beginning on March 1, 2020 and ending December 31, 2020, related to the maintenance of standards for sanitation, social distancing, or any other work or customer safety requirement related to COVID-19.

Percentage of PPP Loan Proceeds on Payroll Costs
Loan proceeds under PPP were to be used for certain expenses with a cap of 25% permitted for use on non-payroll costs during the covered period. The PPP Flexibility Act now allows for up to 40% of PPP loan proceeds to be used on non-payroll costs. For forgiveness, the borrower must now use at least 60% of PPP loan proceeds for payroll costs during the covered period.

Forgiveness Application Filing and Deferral Period
The PPP Flexibility Act requires borrower to apply for forgiveness of a covered loan within 10 months after the last day of the covered period. If borrower fails to file for forgiveness at that time, borrower will be required to make payments of principal, interest and fees, as applicable.
The Act also revised the previously set payment deferral period to coincide with borrower’s application for forgiveness or 10 months after the last day of the covered period if borrower failed to apply for forgiveness.

Payment of Payroll Taxes
The PPP Flexibility Act eliminates the CARES Act exception to now allow a borrower to delay the payment of payroll taxes if the borrower has indebtedness forgiven under PPP


PPP Calculator



  • Please use this checklist to begin assembling the necessary documentation.
  • Also - Use this Payroll Expense Worksheet to record payroll and include in your document checklist. 
  • Use this helpful tool to calculate the loan amount correctly by business type. 
PPP Loan FAQs  
  • Please use this document, provided by the SBA, as a reference for loan applications

  • Please use this loan disbursement control sheet to keep track of your expenses. 

SBA Economic Injury Disaster Loans 


Detailed on the SBA’s site here:

Key Point: The SBA is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the coronavirus. 

  • How much are they for?
    SBA Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
  • What can they cover?
    These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
  • What are the terms?
    The SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • Am I eligible?
    Businesses eligible for these loans include, but are not limited to, hospitality providers, recreational facilities, manufacturers, gyms, owners of rental property, restaurants, retailers, and wholesalers.
  • How do I get approved?
    Loan approval will be based on credit history and a determination by the SBA that the applicant business has the ability to repay the loan. The applicant business must be physically located in a declared county and have suffered working capital losses due to the declared disaster.
  • What’s the cost?
    Applications are free. Approval time depends on volume, but typically takes 2-3 weeks, and disbursement can take up to 5 days.

For questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail For a comprehensive list of resources presented by the SBA, please visit

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

Wisconsin Business Development Corporation (WBD) 504 Loan Deferment


Detailed on the WBD’s site here:

Key Point: The WBD is offering the following options regarding 504 loan payment deferrals:

  1. No Payments: This will defer the monthly principal & interest payments and monthly servicing fees. You will make no payments during the 6-month deferral period.
  2. Pay Servicing Fees Only: This will defer both monthly principal & interest payments and should reduce your payments to be around 15% of your current monthly payment
  3. Pay Servicing Fees & Interest: This will defer the monthly principal payment, which should reduce your payment to about 40% of your current monthly payment.

To learn more, contact the WBD directly at or by phone at (608) 819-0390.

Wisconsin Economic Development Corporation (WEDC) Small Business 20/20 Program


Detailed on the WEDC’s site here:

Key Point: Through this program, the WEDC is providing grants to approved community development financial institutions (CDFIs), which will then up to $20,000 to existing loan clients to assist with cash-flow issues arising as a result of the coronavirus.

Dane County Small Business Pandemic Support Program


Detailed on the Dane Buy Local site here:

Key Point: The program, administered by Dane Buy Local, awards grants ranging from $1,000 to $50,000 to small businesses experiencing financial difficulties as a result of the coronavirus outbreak.

There is $250,000 of available funding to support Dane County small businesses with employee retention and to mitigate losses from the pandemic.

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

Additional Resources


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

5 Quick Tips for Keeping Your Business Healthy

  • Start gathering the documentation you might need to provide for a loan application (contact us if you are not sure what could be required).
  • Let us know if you are experiencing cash-flow/liquidity issues – we are here to help.
  • Do not draw on lines of credit unnecessarily. 
  • To the extent possible, forecast expenses for the next three to six months. 
  • Stay positive and check this page often for updates – program details and features are, in some cases, still being defined, and we will publish them here once they are.