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Covid-19 Relief Options for Small Businesses: We are ready to assist small businesses with PPP Second Draw loans. Click here for applications and additional information.
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Please note: Updates are continuously being received regarding the government program. We will continue to keep you informed by providing links and resources on this website as we receive them.
On December 27, the COVID relief bill was signed into law that included stimulus relief for the COVID-19 pandemic. The Act has significant impacts to the Paycheck Protection Program (PPP), including approximately $285 billion for additional lending and streamlined forgiveness. Even if a PPP loan has already been obtained, small business owners who have experienced a 25% reduction in revenue may apply for a Second Draw PPP loan.
BankIowa is a participating SBA Lender. As a community bank we are here to serve you. For the latest information please use the following links:
SBA website: Small Business Guidance & Loan Resources
US Treasury: Assistance for Small BusinessesWebsite
If you have any questions or concerns about the process, please call your personal Business Banker directly or call (800) 433-0285 and ask to speak to a Business Banker.
Please access the application(s) here:
Borrowers who did not receive a PPP loan in 2020 would complete Form 2483 - First Draw Borrower Application
Borrowers who received a PPP loan in 2020 would complete Form 2483-SD - Second Draw Borrower Application
Borrowers who file Schedule C and who did not receive a PPP loan in 2020 would complete Form 2483-C - First Draw Schedule C Gross Income Application
Borrowers who file Schedule C and who have received a PPP loan already would complete Form 2483-SD-C - Second Draw Schedule C Gross Income Application
Application deadline is March 31, 2021.
To submit a completed Paycheck Protection Program application, contact us at:
BusinessBankingExpert@BankIowa.com or contact a Business Banker who will follow up by providing a secure portal to submit your application and other confidential documents
Simply drop off your application and required documents at any BankIowa Drive Up.
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Toll Free 800-433-0285
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