Investors Community Bank is here to
help your business.

 

As the COVID-19 pandemic continues to impact our lives, communities and businesses, we want you to know that Investors Community Bank is here for you during these unprecedented times.

We are monitoring the latest information on local, state and federal aid programs and will be sharing additional links and information as it becomes available. 

We've compiled a list of resources to help you through these challenges - keep checking back, as we'll be adding to this page often.

The image to the left shows how many dollars we've been able to invest in our communities via the PPP as of 6/2/20. 

 

We understand there are a lot of questions related to details of the debt forgiveness portion of the program. The Wisconsin Bankers Association has put together some information, which we have linked below. This guidance is current as of the date of the publication based on the rules in existence at that time. We already know that the guidance regarding seasonal employers has been clarified and expanded from the reference in this calculator. 

 

Paycheck Protection Program

 


Legislation has been approved providing additional money for COVID-19 relief funds, including $320 billion allocated to the Paycheck Protection Program. See below for application information.

 

Noncustomer Applications: If your business or farm is located within our banking footprint and you would like to submit an application, contact one of our business bankers or agricultural bankers. Our business banking markets include Brown, Manitowoc, Sheboygan, Outagamie, Calumet, Winnebago, Kewaunee and Portage Counties. Our ag banking markets include the state of Wisconsin and other state counties that immediately border Wisconsin. 

Here is a list of the documentation you will need to submit along with your application:

  • Form 941 for each quarter of 2019 (and for first quarter of 2020 if available), unless you are a farm
  • Form 943 for 2019 if you are a farm
  • If you are a sole proprietorship you need to provide a completed 2019 Schedule C or F regardless of whether your tax return has been filed yet.  
  • Payroll register for 2019 reflecting each employee’s gross wages, as well as the number of employees on the payroll for the past 12 months
  • Documentation reflecting the 2019 health insurance premiums paid by the business under a group health plan, including owners of the company for 2019
  • Documentation of all 2019 retirement plan funding by the employer
  • Documentation of employer payment of state or local taxes assessed on the compensation of the employee
  • Legal entity papers (Articles of Incorporation, Organization, Bylaws, Operating Agreement)
  • List of authorized signers, title & email address
  • ICB checking account you want the funds deposited into.

If you are applying as a partner, independent contractor, or self-employed, we ask that you also provide:

  • 2019 1040 Personal Tax Return
  • 2019 K-1s
  • 2019 1099
 

PPP Payroll Calculators for Loan Application (SOURCE: AICPA)

The PPP provides three scenarios for calculating maximum loan amounts, depending on how long the business has been in operation and whether it’s seasonal. These calculators, courtesy of the American Institute of Certified Public Accountants (AICPA), may help with your calculations. (Calculator links will open in Excel)

 


 

Media Inquiries:
Contact Laura Wiegert, Senior Vice President - Marketing via email or at (888) 686-9998
 

 

 
 

Beware of Business Fraud
At 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 important 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.

Manitowoc Phone:
(920) 645-6100

Stevens Point Phone:
(715) 254-3400

Appleton Phone:
(920) 739-2660

Green Bay Phone:
(920) 884-1166

Call Toll Free: (888) 686-9998
Email: contact@investorscommunitybank.com

At Investors Community Bank, we want everyone who visits our web site to feel welcome. We are continually working on enhancing our site to make it more accessible for all our visitors. In order to do that, we’ve been following the Web Content Accessibility Guidelines (WCAG) 2.0 to make web content more accessible for people with disabilities and more user friendly for everyone. We are using Siteimprove as our third party accessibility, compliance and website governance partner. If you have any questions or concerns, contact us at 1-888-686-9998.