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COVID-19 Loan Programs

June 16, 2020

Nebraska Small Business Stabilization Grant for Small Businesses

Learn more about the Nebraska Small Business Stabilization Grant for Small Businesses. This grant allocates working capital to help small business across the state cover operating expenses.

May 22, 2020

Paycheck Protection Program (PPP) Loan Forgiveness Application

The SBA has recently released the Paycheck Protection Program (PPP) Loan Forgiveness Application. A link to the application is listed below.

This application provides instructions on how to complete the form, the requirements for obtaining forgiveness of the loan and documentation to support the calculations. We encourage you to review this information.

It is important to note that additional guidance is expected from the SBA on how to complete this application. It is also expected that portions of this application may change, similar to what occurred with the initial PPP Application.

At this time, we feel the best course of action is to review the application and wait for further information from us on when to begin the process of completing. The bank is working on additional tools to assist with the completion of this forgiveness application.

Feel free to touch base with your First State Bank & Trust Co. lender if you have questions.

Please note this post is based on the information currently available regarding the PPP loan program and our current interpretation of the program and related guidance; however, the PPP loan program may receive additional guidance from the Treasury Department and/or the SBA which may alter the interpretation. No assurance can be provided that future interpretations or application of the Act, including specific rules and guidance, will not differ from this post.

April 1, 2020

To our customers, business owners and friends,

We truly understand that your daily operations and finances have been impacted during this unprecedented time. We’re committed to you and our community. Therefore, we would like to share important information regarding the various COVID-19 loan programs announced recently by the SBA and Treasury.

Paycheck Protection Program

First State Bank & Trust Company will help small businesses by providing these loans. Although we expect additional changes, below is a link to an application to apply for this program. In addition, please provide your 2019 tax return (if completed) and/or documentation of payroll expenses. There is a link to a payroll calculation worksheet for your convenience which will help you calculate your maximum loan amount. Please send these ASAP to your commercial lender.

The $2 trillion economic relief plan approved by the Senate and House will provide $350 billion in loans for small businesses to cover salary, wages and benefits worth 250% of an employer's monthly payroll with a maximum loan of $10 million. The new law gives the SBA about 4 weeks to provide instructions to banks. We will continue to share details with you as they are available. Please note that even though the application process is expected to open on Friday, April 3, 2020, we believe it is in the best interest of our clients to not submit applications until we receive final guidance by the SBA.

Economic Injury Disaster Loan (EIDL) Assistance

This is an SBA direct loan. The SBA is offering direct economic disaster loans to help with the effect of COVID-19. The SBA disaster assistance customer service center can be reached at 1-800-659-2955 (TTY 1-800-877-8339) or To apply, visit the website:

It is important that you contact your First State Bank & Trust Company lender and let us know if you will need access to the Paycheck Protection Program. We anticipate a huge demand for loan funds, and we want to be sure your application is completed for approval to receive funds as soon as possible.

We continue to be here for you. We will keep you updated on changes and available resources on our website. Be sure to visit for the most up-to-date information. Be well and stay safe. This is a difficult time, but we are here for you.


Chuck Johannsen, President
Nick Vrba, Executive Vice President
Jon Rohlfs, Senior Vice President
Frank Kment, Vice President
Jeff Mimick, Assistant Vice President