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Covid 19 Business Resources

Here to Support Small Businesses

At Flatwater Bank we are here to help you navigate through these unprecedented challenges by keeping you updated on resources available to you and your business on the local, state and national levels.  
Below are options we think may be of immediate benefit to businesses we work with. 
Don’t hesitate to reach out to our team members for additional information. 

 *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 and websites for additional details. We are committed to keeping you updated as we receive additional information.  Information updated as of 6/18/2020

  • Funding is limited so apply soon!
  • Maximum Loan Amount = 1 month of your average monthly payroll costs x 2.5 (note:  payroll cost will be capped at $100,000 annualized for each employee).
  • Does it include loan forgiveness/grants?  You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utility payments over the 8 - 24 weeks after getting the loan (up to 60% to include payroll).  
  • Interest Rate = 1.00% fixed rate
  • Loan Term = 2 years - 5 years 
  •  Applications can be accepted thru 8/8/2020.
  • Documents to assist in getting started:  2019 Form 941, 943, or W3's, 2019 tax return (Schedule C, or F for self employed applicants), 2019 Profit/Loss Statement, general business/ownership information
  • Here is a summary of FAQs on the program. Here is a summary of the program.

PPP Loan Forgiveness: 
We will begin accepting forgiveness requests when we get additional guidance from the SBA.  In early June, the Paycheck Protection Program Flexibility Act passed, which extended the covered period of PPP loans, and included other favorable changes. 
As a result, the SBA introduced an updated forgiveness application as well a new shortened EZ application. 
Here are resources to help you prepare for forgiveness.  If you believe you have maximized forgiveness and would like to apply, reach out to us.  Here are resources to get you started:
The EZ Application is available to those who:
  • 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.
If you don't qualify for the EZ forgiveness application, the SBA released an updated version of the full application.
  • 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
7/14 Update: Applications are re-opening  for small businesses (not livestock) with expanded eligibility.  Businesses with 75 or fewer employees who are licensed for withholdings are now eligible.  Deadline to apply is 7/17 at 4 PM.
Governor Pete Ricketts and State officials recently announced that the State of Nebraska will be awarding $386 million in grants, using federal coronavirus relief dollars, to help Nebraska Small Businesses.  It is anticipated that each business will receive a minimum of $12,000 to help offset the negative impacts of COVID-19 on their operations.  These are grants and do not require repayment.
The programs will be administered by the Nebraska Department of Economic Development (DED) in partnership with the Nebraska Departments of Labor (NDOL) and Agriculture (NDA).  The Small Business Stabilization Grant Program will provide grants to small businesses with 75 employees or fewer who were impacted by the coronavirus and meet certain eligibility requirements, as well as livestock producers. 
A website has been created with information about these new grant programs, including eligibility requirements, how to apply, application deadlines, and frequently asked questions. 
To get started, businesses need to fill out the Eligibility Certification Form (to verify your business is a Nebraska taxpayer), and eligible applicants will be notified by email and given a confirmation number allowing them to complete a full application.
Questions can be directed to DED’s Get Nebraska Growing information hotline at 855-264-6858.

calculator on a desktop next to a pair of sunglassesThe 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.

For more details on the program, visit

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.

PadlockAt times like these, we especially need to be wary of business fraud. We ask that you please be diligent about confirming the authenticity of payments that are being sent out from your business. This would include checks, wires, bill and ACH payments, and any other forms of payment.
If you receive a request, it’s vital to do out-of-band (two-factor) authentication BEFORE sending any payments to vendors, which requires a secondary verification method through a separate communication channel. Be suspicious of unusual requests and verify any before proceeding – for example: if a vendor requests bank and/or account information be changed through an email. Before you make the change, you should confirm it is legitimate by calling the vendor at an already-established phone number.
Always be on the lookout for the various fraudsters out there. They wouldn’t think twice about scamming you or your company and will take advantage of these challenging times! We also recommend that you check your business online banking account regularly and review transactions posted to your account, ensuring each is legitimate and reflects your business activity. If you see any discrepancies, contact your bank immediately.
The U.S. Small Business Administration is sending a cyber warning alert to loan applicants seeking federal aid in response to the Coronavirus (COVID-19) pandemic. Email phishing campaigns where malicious actors are impersonating the SBA and its Office of Disaster Assistance to collect personally identifiable information (PII) for fraudulent purposes have surfaced.
The SBA is particularly concerned about scam emails targeting applicants of the SBA’s Economic Injury Disaster Loan Program asking them to verify their accounts using a third-party online platform to collect personally identifiable information.
It should be noted that any email communication from the SBA will come from email accounts ending in, and nothing more. Loan applicants are being advised to look out for email scams and phishing attacks using the SBA logo. These may be attempts to obtain PII, access personal banking accounts, or install ransomware or malware.
Applicants are also advised to help protect their identity and privacy by never providing their full name, date of birth, social security number, address, phone numbers, email addresses, case numbers, or any other PII in public-facing comments or responses to third-party emails.
The SBA will not use a third-party platform to:
  • Actively seek PII
  • Search a third-party platform for or by PII, or
  • “Follow” public users proactively without a waiver.
Borrowers who are in the process of applying for an SBA loan and receive email correspondence asking for PII are cautioned to ensure that any application numbers referenced in the email are consistent with their actual application number. Loan applicants and borrowers are also advised not to click on any links or open any attachments, which are often used in phishing email scams. 
Additionally, federal agencies that provide disaster recovery assistance will never ask for a fee or payment to apply for financial assistance, and government employees do not charge for any recovery assistance provided.
An SBA logo on a web page does not guarantee the information is either accurate or endorsed by the SBA. Loan applicants and borrowers should be vigilant in protecting their personal information and data assets. Visit to learn more about scams and fraud schemes.
If you suspect an email is associated with a fraud scam targeting the SBA, report it to the Office of Inspector General’s Hotline at 800-767-0385 or online at
Loan applicants who have questions about SBA’s Economic Injury Disaster Loan program may call the Disaster Customer Service Center at 1-800-659-2955 (TTY: 1-800-877-8339) or send an email to