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.
- Investors Community Bank PPP Loan Forgiveness Checklist (June 3, 2020)
- Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (May 22. 2020)
- Interim Final Rule on PPP Loan Forgiveness (May 22, 2020)
- ICB PPP Loan Forgiveness Webinar Q & A Responses (May 21, 2020)
- ICB PPP Loan Forgiveness Webinar PowerPoint Presentation (May 21, 2020)
- ICB PPP Loan Forgiveness Webinar Video (May 21, 2020)
- WBA PPP Loan Forgiveness Guide
- WBA PPP Loan Forgiveness Calculator
- Five Things Every PPP Borrower Should Do After Receiving a Loan (From Forbes.com)
- ICB Business Blog: How to Ensure Your PPP Loan is Forgiven
- SBA Announces Safe Harbor for PPP loans under $2 million
- PPP Loan Forgiveness Sample Application
- SBA PPP Frequently Asked Questions
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)
- PPP Loan Calculator – Non-seasonal & In business 2/15/19 – 6/30/19
This calculator will apply for most businesses that operated in 2019.
- PPP Loan Calculator – Non-seasonal & NOT in business 2/15/19 – 6/30/19
This calculator will apply for new businesses.
- PPP Loan Calculator – Seasonal business
This calculator will apply for seasonal employers.
- PPP Loan Calculator - Self-Employed Individuals
This calculator will apply for sole proprietors, independent contractors or for the self-employed.
- View a sample application form
- Paycheck Protection Program Frequently Asked Questions
- Interim Final Rule 1
- Interim Final Rule on Applicable Affiliation Rules
- Interim Final Rule on Additional Eligibility Criteria and Requirements for Certain Pledges of Loans
- Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliation, and Eligibility
- ICB Business Blog: COVID-19 - Resources for Businesses
- ICB Business Blog: Current Information on United States SBA Loan Programs
- ICB Business Blog: 5 Things Small Businesses Can Do Right Now to Prepare for the CARES Act
- ICB Business Blog: COVID-19 - How we are Helping Our Customers
- ICB Business Blog: Welcome to My Office - Tips for Working Remotely
- ICB Business Blog: Protect Your Business from COVID-19 Fraud
- ICB Business Blog: 7 Things to Do for Your Business During COVID Downtime
- ICB Business Blog: How to Ensure Your PPP Loan is Forgiven
- ICB Business Blog: Cash Flow Management Tips to Remember During a Crisis
- ICB Business Blog: PPP: A Reminder of Why the Program was Created and the Good it is Doing
- The Small Business Owner's Guide to the CARES Act
- Small Business Administration (SBA) Business Guidance and Loan Resources
- Small Business Administration (SBA) Disaster Assistance Information
- Wisconsin Economic Development Corporation Economic Assistance Information
- U.S. Chamber of Commerce COVID-19 Emergency Loan Small Business Guide and Checklist
- USDA Announces Details of Direct Assistance to Farmers through the Coronavirus Food Assistance Program
Investors Community Bank COVID-19 Related General Bank Information
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.