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COVID-19 Help (Paycheck Protection Program)

PPP Forgiveness Application Checklist

 

Be sure to complete steps 1, 2, and 3 below.

1. Complete Borrower Forgiveness Application SBA Form 3508EZ or SBA Form 3508S (if loan is less than $50,000).

2. Compile any and all supporting documentation for costs included on your forgiveness application into a single consolidated PDF if possible. Examples of acceptable supporting documentation may include:

  • Copies of payroll summary and/or tax reports filed with the IRS (including tax forms 941, 940, state income, and unemployment tax filing reports).
  • Click here for complete 3508EZ application and documentation instructions. Click here for complete 3508S application and documentation instructions.
  • Any other supporting documentation of non-payroll expenses for mortgage interest, rent, or utilities such as receipts or cancelled checks.
  • Statements documenting employer contributions to health insurance premiums and retirement plan funding.

Please submit FORM 3508EZ and all supporting documents via the Dropbox link below (if you are submitting for multiple businesses, please submit them separately):

 

Click here to upload files.

 

IF YOU ARE UNABLE TO CERTIFY ALL OF THE REQUIRED STATEMENTS ON FORM 3508EZ OR DON'T KNOW IF YOU QUALIFY TO USE FORM 3508EZ TO APPLY FOR LOAN FORGIVENESS, PLEASE CONTACT YOUR BUSINESS BANKER TO DISCUSS YOUR OPTIONS.

 

PPP Checklist for Existing Customers at Citizens State Bank

 

Be sure to complete steps 1, 2, and 3 below.

  1. Complete PPP Loan Calculator (if business files any type of corporate tax return) or PPP Loan Calculator (if business files a schedule C on owner's personal tax return).
  2. Complete Borrower Application (SBA Form 2483) (Please be sure to initial numbers 5 & 6).
  3. Compile any and all supporting payroll documentation into a single consolidated PDF if possible. Examples of acceptable supporting documentation would include:
  • Copies of payroll summary and/or tax reports filed with the IRS (including tax forms 941, 940, state income, and unemployment tax filing reports) for entire year of 2019 and first quarter of 2020 (if available).
  • If applicable, schedule C of personal tax return.
  • Breakdown of other payroll benefits, including vacation, allowance for dismissal, or other PTO benefits, as well as health insurance premiums and retirement plan funding by the employer from the immediately preceding 12-month period.
  • Any other supporting documentation used to aid during the completion of the PPP Loan Calculator.

 

If you are a customer and currently only have a deposit account, please submit these additional documents with your application:

  • Operating Agreement or By-Laws and minutes (that identify authorized signers).

  • Color photocopies/pictures of current drivers licenses for all owners over 20%.

Please submit all documents requested above via Dropbox link below (if you are submitting for multiple businesses, please submit them separately):

 

Click here to upload files.

 

*For existing customers who are submitting a PPP Application, the Borrowing Entity MUST have a deposit account with Citizens State Bank. If the Borrowing Entity does not have a deposit account with Citizens, please contact the bank to set up a deposit account prior to submitting your application.

What Our Clients Say About Us

Very friendly staff from the moment I walked in. Dallas was very professional, knowledgeable and had me in and out fast!

Flo-Rite Exteriors & Seamless Gutters LLC

Thank you to Jared who has been phenomenal to work with! Jared stepped in to help on of our clients to secure financing for a commercial construction project. He went above and beyond with his communication between the client and our construction company as well as going above and beyond with his efforts to secure financing. Without Jared stepping in I don't know if this project would have been made possible. We look forward to continuing to refer Jared to future clients!

Marawood Construction

We recently just closed on a commercial loan from Jesse at Citizens! What a great experience! Of the two prior houses I have owned and the hassle it was to purchase them, I figured getting a commercial loan was going to be even worse. But that was not the case, Jesse made it SO easy from start to finish and helped us along the way. We can't wait to do our next loan through Citizens and grow our relationship with the wonderful staff in their office! Thanks for the smooth transaction, looking forward to the next!

Riverland Rentals