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Coronavirus Relief

Coronavirus Small Business Loans

Moving Your Business Forward During Uncertain Times.

Though the COVID-19 pandemic has affected the way businesses do business, it’s also showed us how we can work together. Here at Union State Bank, our job is to help ensure that businesses have the resources to stay in business. 
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses, including sole proprietors and non-profits, to keep their workers on the payroll during the COVID-19 pandemic. Find out more about a PPP loan for your business.

The Paycheck Protection Program Second Draw (PPP2) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP2 Loan with the same general loan terms as
their First Draw PPP Loan.

Second Draw PPP2 Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

Note: Union State Bank suggests all eligible borrowers who apply for a PPP2 loan to have previously filed for loan forgiveness for their original PPP loan.

Find out more about a PPP2 loan for your business.

Union State Bank is currently accepting forgiveness applications.

The U.S. Small Business Administration (SBA) began accepting forgiveness applications on August 10,2020. 

We would suggest that you review the forgiveness applications to become familiar with the application process.  Please pay special attention to the forgiveness application instructions and the documentation requirements to be submitted along with the application.  A few of the items required to be submitted with your forgiveness application are the Internal Revenue Service (IRS) Form 941 and state unemployment reports.  Included in the instructions is a full list of required documentation.  As a reminder, USB has 60 days to submit completed applications to the SBA and incomplete applications cannot be accepted.

The SBA  will forgive loans if all employee retention criteria are met and funds are used for eligible expenses. Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.  

There are currently three loan forgiveness applications to choose from: 

About the EZ Application

The EZ application requires fewer calculations and less documentation for eligible borrowers, which will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan.   

The Form 3508EZ forgiveness application applies to borrowers that meet one of the following three criteria:

  1. Are self-employed and have no employees; OR
  2. Did not reduce the salaries or wages or their employees by more than 25%, and did not reduce the number or hours of their employees; OR
  3. Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%. 


The Forgiveness Application must be COMPLETELY filled out prior to being accepted by a Union State Bank loan officer. Union State Bank cannot and does not warrant or guarantee approval or funding of any PPP loan or the forgiveness of any amount received by an applicant. If you have any questions, or need assistance in any way, please do not hesitate to contact us toll-free at 866.557.0060. Your local USB branches are also here to help. Find a complete listing of our officers here.

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