The FNB Blog

Ag/Farmer/Rancher PPP Eligibility

Read more
Ag/Farmer/Rancher PPP Eligibility

Farms are eligible if:

Ag/Farmer/Rancher PPP Eligibility

On March 27th, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This package appropriated $349 billion for the Paycheck Protection Program (PPP). The PPP is a guaranteed loan program administered by the Small Business Administration (SBA). The purpose of the program is to support small businesses and help support their payroll during the coronavirus situation.

Participation of Faith-Based Organizations

Read more
Participation of Faith-Based Organizations

Faith-Based FAQ

Participation of Faith-Based Organizations

And The Paycheck Protection Program (PPP)

 

These first-come, first-served loans are offered until June 30, 2020, or until the program runs out of funds. Loans are capped at the lesser of 250% of a borrower’s average mont
hly payroll costs, or $10 million. Payroll costs include, but are not limited to, salary, paid leave, medical, and healthcare. Further, salary for employees making more than $100,000 is capped at that level for the calculation of loan size. All loans have a 1% interest rate and a two-year term. Loans are 100% guaranteed by the SBA. E-signatures or e-consents may be used. Loan payments may be deferred for up to 6 months. PPP loans may be used to pay for payroll costs, mortgage interest obligations, rent obligations, utilities, and any other interest payment on debt obligations accrued before February 15, 2020. SBA requires 75% of the loan to be used for payroll costs, while the remaining 25% can be used for the other expenses. Funds used for purposes other than those outlined above must be repaid by the borrower.

 

Churches and religious nonprofits are usually ineligible for SBA lending programs. Authorized under the CARES Act, nonprofit organizations otherwise excluded are eligible for a PPP loan.

Paycheck Protection Program SMS Updates

Read more
Paycheck Protection Program SMS Updates

Small Business Guide and Checklist

One great way First National Bank uses text messaging is to send out updated information regarding the Small Business Paycheck Protection Program. We are awaiting further guidance from the federal government. Below you will find what we know so far and you can Opt-In to receive additional updates as we know more by TEXTING  'PPP' to 620.236.6762

*COVID-19 Update as of March 20, 2020*

Read more
*COVID-19 Update as of March 20, 2020*

We are committed to ensuring the health and well- being of our employees, customers, and our communities. Therefore, all First National Bank branch lobbies will remain open by appointment only until further notice. The decision was based on current CDC recommendations for social distancing and to help minimize the spread of COVID- 19 (coronavirus). Rest assured, we are committed to providing all of your financial needs and will be here to support our community during this  time.

*COVID-19 Update as of March 19, 2020*

Read more
*COVID-19 Update as of March 19, 2020*

First National Bank of Syracuse’s leadership team is working diligently to follow the rapidly changing situation regarding the COVID-19 virus (Coronavirus).  Our utmost concern is for the safety of our employees, customers, and communities we serve.  Our hearts go out to the people who are being affected by this unprecedented event, and we appreciate all the work our health-care workers, local communities, and governments are doing to contain this coronavirus. We also realize the importance of our role in supporting the financial stability and well-being of the community and providing access to liquidity and financing you need. 

RSS
12345678

Stop by for a visit

We have several locations throughout southwest Kansas to serve your banking needs.

View Locations