COVID-19 Lending

Small Business Lending Options for COVID-19 Relief

The Cares Act has provided relief options for small businesses that have seen a negative impact on their revenue. There are SBA direct options such as the Economic Impact Disaster Loan (EIDL) that you can apply for directly with the SBA. The link to apply is https://covid19relief.sba.gov/#/

As an SBA Preferred Lending Partner, we are processing small businesses relief through the Payroll Protection Program (PPP). This new SBA loan program is designed to provide cash flow assistance for businesses that have been negatively impacted by the virus. First State Bank Nebraska will process PPP loans on behalf of the SBA. As a small business owner, it is your responsibility to understand your lending options. If you have questions on which program is best for you please refer to the SBA website, sba.gov

If you have decided that a Payroll Protection Program loan is your best option we are here to help submit your loan request to SBA.

Items Needed for a Payroll Protection Program Loan Application:

  • A Payroll Protection Program application
  • A photocopy of your driver’s license
  • Verification on the amount of payroll you paid during the calendar year 2019.
  • Verification you were in business on February 15, 2020.

How to Submit a PPP Loan Request to First State Bank Nebraska

We are taking applications using a secure document portal. To begin the process, download a copy of the PPP application to complete the form. The PDF form will need to be filled out completely. You can either complete the form digitally or by hand. A completed form will need to be uploaded to our document portal to begin the application process. Once we receive a completed application, via email we will send you an online document checklist that will allow you to see what is needed to complete the loan application.


It is our goal to contact you by email or phone within 72 hours of submission. If for some reason you have not heard from us please contact us at …..

Frequently Asked Questions on Cares Act Lending

Do I need to repay my loan

A Payroll Protection Program Loan is not automatically forgivable. If you provide verification that the loan funds were used for payroll, rent, and certain utilities, the loan funds are forgivable. Loan documentation will provide guidelines on documentation. Please be aware that while the can be forgiven, it will require verification by the lender and SBA.

Am I eligible to receive funds

The eligibility for SBA is normally complex but for the Payroll Protection Plan it has been simplified. If you were in business on February 15, 2020 and have less than 500 employees you are eligible. If you are restaurant, the 500 employees is per location.

What options do I have on my existing SBA loans

There are payment deferment options as well as a 6-month payment forgiveness period on existing SBA loans.

How soon will it be funded

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What documents are needed to get my application started

To get started, a completed SBA Borrower Application (Form 1919), a copy of your drivers license, 12 months of payroll history, verification you were in business on or before February 15, 2020.

Can a non-customer apply?

We are currently accepting PPP loan applications for non-customers. For current First State Bank Nebraska customers there is no minimum loan amount requirement. For non-bank customers there will be a minimum loan amount of $100,000. This means that you will need to have an average monthly payroll of $40,000.

Can a customer get both a PPP and EIDL loan

Yes, you can have both a PPP and EIDL loan but we recommend doing so with caution as they cannot be used for the same purposes. If you have applied for an EIDL loan please contact us directly as it could impact your PPP loan.

What expenses are eligible for loan forgiveness

With proper verification, payroll costs, rent, mortgage interest and certain utilities such as cable, internet, power, gas, and water are eligible for loan forgiveness.

Will I need to provide proof I used funds for eligible purposes before it’s forgiven

Yes, you will be required to show proof that loan funds were used for eligible forgiveness expenses.

What is the timeframe to apply for a loan

You have until June 30th, 2020 to apply for a PPP loan. The Cares Act has a finite amount of funds set aside for PPP loans and we cannot a provide guarantee that a loan submitted will be approved before the allotment of funding has been exhausted.

What documents can I get ready before

The loan amount is based on based on the average monthly payroll for your business. Collecting your last year of payroll reports is the best place to start. Having your entity documents such as you operating agreement, and EIN verification is also helpful.