Here to Support Small Businesses
*Flatwater Bank has prepared this information with the most current information we have received. There has been an evolution in details as programs are being finalized. This is the most current information we have available. Refer to the treasury.gov and SBA.gov websites for additional details. We are committed to keeping you updated as we receive additional information. Information updated as of 10/20/2020.
- Are not eligible to use the Form 3508S, and
Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (except laid-off employees who refused an offer to return), OR
Did not reduce salary or wages for any employee by more than 25% during the covered period, and experienced reductions in business activity as a result of health directives related to COVID-19, OR
Applied for the PPP loan as self-employed, an independent contractor, or a sole proprietor with no employees.
- The SBA is currently accepting new EIDL applications for U.S. businesses and agriculture producers.
- Maximum Loan Amount = $2 million based on economic injury as determined by SBA
- Does it include loan forgiveness/grant? SBA may provide up to $10,000 in emergency grants to EIDL applicants that need it. Applicants do not need to repay the grants even if the loan is denied.
- Interest Rate = 3.75% for businesses and 2.75% for non-profits
- Loan Term = up to 30 years
- Stabilization Grant for Charitable Organizations and Licensed Care Providers. Eligible charitable organizations and care providers that did not, with certain exceptions, receive a Community CARES Stabilization Grant in Round 1 in July may apply for a Round 2 grant. Most eligible entities will receive a grant of $12,000, which may be used to cover operating expenses.
- Healthy Places Grant for Centers of Worship. Eligible centers of worship that did not receive a Community CARES Healthy Places Grant in Round 1 in July may apply for a Round 2 grant of $1,500 to cover the purchase of personal protective equipment.
- Small Business Stabilization Program. Eligible businesses that did not receive a Small Business Stabilization Grant in Round 1 and that are not considered a restaurant, bar, hotel, convention center, body art salon, nail technology salon, cosmetology and esthetic salon, massage therapist, or barber may apply for a Round 2 grant of up to $12,000 to cover operating expenses.
- Livestock Producer Stabilization Program. Eligible livestock producers that did not receive a grant in Round 1 of either the livestock or small business program may receive a Round 2 livestock grant of up to $12,000 to cover operating expenses.
Hotels and Convention Centers Stabilization Program. This new program offers eligible applicants funding to cover operating expenses. Funding will be based on the total number of eligible applicants and the total square feet of meeting space.
- Event Centers and Sports Arenas Stabilization Program. This new program offers eligible applicants funding to cover operating expenses. Funding will be based on the total square feet of indoor meeting space or fixed seating and the number of contracted events.
- Restaurants and Bars Stabilization Program. This new program offers eligible applicants funding to cover operating expenses. Businesses that previously participated in Round 1 of the Small Business Stabilization Grant Program will receive $12,000 while those that did not participate in the program will receive $24,000.
- Licensed Personal Service Business Stabilization Program. This new program is designed to help stabilize licensed body art and nail technology salons, cosmetology and esthetic salons, massage therapists, and barbers by offering eligible applicants funding to cover operating expenses. Businesses that previously received awards under Round 1 of the Small Business Stabilization Grant Program are not eligible to apply. Eligible applicants will receive $12,000.
- Movie Theatre Stabilization Program. This new program offers eligible applicants funding to cover operating expenses. Eligible applicants will receive $10,000 per screen.
The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses that are suffering substantial economic injury as a result of the novel coronavirus.
Uses for this loan option, include paying 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 without credit available elsewhere; businesses with credit available elsewhere are not eligible. 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.
If you are thinking of applying, here's what you can do to get started now with forms you'll need and be ready to go when the portal opens:
- Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.
- Complete copies of the most recent Federal Income Tax Return.
- Schedule of Liabilities (SBA Form 2202).
- Personal Financial Statement (SBA Form 413).
- Profit and loss statements
- Monthly sales figures (SBA Form 1368)
- Small Business Administration (SBA) Disaster Loan Information and Resources
Nebraska Department of Economic Development:
The Department of Economic Development is partnering with Governor Ricketts to inform and assist businesses during Nebraska’s ongoing response to COVID-19. The department’s Field Services Team is working consistently with business leaders in these regions to address ongoing COVID challenges. Contact numbers for our staff in these regions are listed on the site.
Nebraska Chamber of Commerce and Industry:
This page is designed to provide the latest information to Nebraska businesses from the Nebraska Chamber of Commerce and Industry. Included on this page are resources available to from state and federal agencies.
Nebraska Department of Labor:
The page provide unemployment program information and assistance from the Nebraska Department of Labor.
Learn more about the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announcement regarding small and midsize employers who can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing coronavirus-related leave to their employees.
Workplace Safety (OSHA):
This guide covers topics related to ensuring your workplace is safe, tips on reducing risk, steps to take if a COVID-19 outbreak would occur and much more.
- Actively seek PII
- Search a third-party platform for or by PII, or
- “Follow” public users proactively without a waiver.