CNB St. Louis Bank is facilitating SBA 7(a) Paycheck Protection Program (PPP) loans.  The program, implemented by the Small Business Administration (SBA) with support from the Department of the Treasury, prioritizes millions of Americans employed by small businesses by authorizing loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

Visit the SBA’s PPP Page (Opens in a new Window) for additional information and forms.

Please note that some users have experienced issues accessing the SBA’s website with Internet Explorer.  If you have this problem, please try accessing the site from one of the browsers listed on our browser check page.

Are you an existing PPP Borrower wanting to apply for additional PPP funds?

If you have already received a PPP loan with the first round of loan funds in 2020 and would like to apply for additional PPP funds, you are looking for what is called a PPP Second Draw Loan.  Click the button below for the second-draw application form or you may read the SBA top-line overview of PPP second draw loans (Opens in a new Window).

If you are an existing PPP Borrower who files using Gross Income on Schedule C, use the below Second-Draw Application

Are you a new PPP Borrower applying for your first PPP loan?

If you have not before received a PPP loan, you are looking for what is called a PPP First Draw Loan. Click the button below for the first-draw application form or you may read the SBA’s top-line overview of PPP first draw loans (Opens in a new Window).

First-Draw Application (pdf) (Opens in a new Window)

If you are a new PPP borrower who files using Gross Income on Schedule C, use the below First-Draw Application

First-Draw Application for Schedule C Filers (pdf) (Opens in a new Window)

First and Second Draw applications linked on this page are current as of 3/3/2021. For more information about the PPP loan program, visit the SBA's PPP Loan webpage or check out their Frequently Asked Questions (Opens in a new Window), also updated on 3/3/21.

  • Update 3/3/2021
    The SBA released an interim final rule on the changes to the PPP program recently announced by President Biden.  This includes new application forms, including new application forms for borrowers who file an IRS Form 1040, Schedule C for gross income calculations.  Click here to read the interim final rule.
     
  • Update 1/11/2021
    The PPP loan portal system re-opens only for First Draw PPP (Opens in a new Window) loan applications from participating Community Financial Institutions, or CFIs.  CNB St. Louis Bank is not a CFI under the definition set forth by the SBA which includes Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries.  Therefore, CNB St. Louis Bank is not yet able to accept applications.  

  • Update 1/8/2021
    The U.S. Small Business Administration (SBA) in consultation with the Treasury Department announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11, 2021 for some financial institutions.  It is not yet clear if CNB St. Louis Bank will qualify as one of the institutions able to make loans immediately or if we will be in the group of remaining participating lenders who will begin lending “shortly thereafter.”  Click here to read the full release. (Opens in a new Window)
If you are a first draw borrow and you wish to begin preparing your application and see the information that will be requested from you when you apply, here are resources for you:
Note:  If you are having trouble with the links, click here for a list of compatible browsers.

What is a first draw borrower?
First draw borrower means that you did not receive a PPP loan during the initial program in 2020.
If you received a PPP loan during the first round of the program and are interested in applying for a second round of PPP loans, here are resources for you:
Note:  If you are having trouble with the links, click here for a list of compatible browsers.

What is a second draw borrower?
Second draw borrower means that you received a PPP loan during the initial program in 2020 and are interested in applying for additional PPP as part of the second round of the program.

In addition to the completed loan application, borrowers must also provide the Bank with the documentation to substantiate the qualifying costs used to determine amount of the PPP loan.

Note for Loans $150,000 and Under:  The SBA application indicates borrowers must provide documented proof of a 25% or more decline in quarterly revenue at the time of forgiveness.  As part of our commitment to delivering a smooth forgiveness process, CNB St. Louis Bank is requiring borrowers to provide documented proof of revenue decline at the time of application.

In order to qualify for loan forgiveness, Paycheck Protection Program loans must meet certain U.S. Treasury and Small Business Administration standards.