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CARES Act Paycheck Protection Program (PPP)

The U.S. Treasury Department has provided full information regarding the CARES Act Paycheck Protection Program (PPP) and the process to apply, which includes: (1) a Program Overview sheet, (2) a Borrower Information sheet, and (3) a PPP Application. Links to all three documents are included below:

In addition to returning the initialed and signed application, the following documents are required:
• A copy of your W-3, 940 and Quarterly 941’s for 2019
• A copy of the 2019 business tax return and a copy of all W-2's for employees
• For Self-employed and Sole-Proprietorships a copy of 2019 tax return including Schedule C and any 1099’s
• Current Copy of Principal’s Driver’s License
• Copy of Articles of Incorporation
• Monthly rent and average monthly utility bills for the business
• Indicate if you or your company has ever had an SBA loan 

 Send the application and information to: [email protected]

Please carefully review the information included in the links above. The loans under the PPP will be administered by the banks registered with the SBA and will be guaranteed 100% by the U.S. Government.

Please note that, in view of the high demand for loans through the PPP and the volume of existing and anticipated applications, and in view of the rules adopted by the Small Business Administration (SBA), Itasca Bank & Trust Co. makes no promise nor commitment that a loan will be made to you or your business or that your application will be submitted to the SBA before available PPP funds are depleted. Itasca Bank & Trust Co. will process applications consistent with our criteria and the criteria established by the SBA, which may change at any time, without notice. If you are not a current customer of Itasca Bank & Trust Co., it may be most efficient for you to apply for a PPP loan through your existing bank.

Please continue to check this page for additional details on the program.
If you have additional questions, please contact your commercial lender.

Thank you,

John Hunt
Senior Vice President & Chief Loan Officer

 

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