SBA Relief Funding Programs

If your business has been impacted by the coronavirus (COVID -19) we’d like to share the following information from the U.S. Small Business Administration (SBA). First Advantage Branch of First National Bank is an approved SBA Certified Lender. Please contact your local branch during regular business hours if we can be of any assistance. 

You May Also Learn More Here: Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Paycheck Protection Program Forgiveness
The Small Business Administration (the “SBA”) has released a revised long forgiveness application, an abbreviated "EZ" forgiveness application and related instructions. Each of those documents are available on our website at the links below.

Click here for the PPP Forgiveness Full Application Instructions.
Click here for the PPP Forgiveness Full Application. 

Click here for the PPP Forgiveness EZ Application Instructions.
Click here for the PPP Forgiveness EZ Application.

The SBA has updated long application to reflect the extended 24-week covered period and the new EZ application is available for small businesses that meet one of the following requirements:

1) Self Employed and have no employees; OR:

2) Did not reduce wages by more than 25% AND did not reduce the number of hours of employees from January 1, 2020 to end of 24 week period. You don’t have to count any employee reduction from the inability to rehire qualified replacement workers, or if an employee refused to work;  OR:

3) You were unable to operate your business between February 15, 2020 and the end of the covered period at the same level of activity due to compliance with requirements established or guidance issued by the Secretary of Health and Human Services, the Director of the CDC, or OSHA relating to the maintenance of sanitation, social distancing, or ANY other work or customer safety requirement relating to COVID-19.

Please review the EZ Application for additional information on these requirements to ensure you qualify.

As you know, all PPP borrowers are eligible to have all or a portion of their PPP loan forgiven if the funds are used appropriately and the borrower files one of the two forgiveness applications. As outlined in the applications and related instructions, borrowers are expected to gather substantial documentation to support their request for forgiveness of their PPP loan. We encourage all customers to review their appropriate application and to begin gathering the required documents necessary to seek forgiveness.

The forgiveness calculation first requires you to sum all allowable costs in the 24 week period, and then multiply that sum times the FTE quotient.   Because the loan amount was calculated at 2.5X monthly payroll, a business that operated after receiving its loan should spend roughly 220% of its loan amount on allowable expenses during the covered period.   Better yet:  Even a business that has reduced its headcount by 50% during the covered period, might still achieve total forgiveness.

For example:
Loan Amount = $100,000
Allowable expenditures in Covered Period = $200,000 (A)
Times FTE Quotient = 50% (B)
Forgivable Loan amount = $100,000 (AxB)

The new rules/forms also clarifies that the maximum compensation allowed for any owner (including employee owners) is capped at 2019 compensation (not to exceed $100,000) times 2.5/12.  The 2.5X was how the loan amount was calculated to begin with, which translates to certain total forgiveness for any sole proprietor.

We will be able to accept your forgiveness applications after your covered period ends, as noted in the instructions. Please let us know if you have any questions or if there is anything else we can do for you at this time.

Economic Injury Disaster Program

The Economic Injury Disaster Loan is a low-interest federal loan issued by the SBA to alleviate economic injury small businesses or private non-profits are experiencing; in this case, injury caused by the Coronavirus (COVID19). They become available once a county or state gets an Economic Injury Disaster Loan assistance declaration also issued by the SBA. 


Low-interest federal disaster loans are currently available for businesses in every state and can be used to cover accounts payable, debts, payroll and other bills the coronavirus has affected your ability to pay.

How to Apply:

The SBA highly recommends using the online loan application, which can be found at:

When does the business have to start paying back the loan?

EIDLs repayment is deferred for twelve months. Interest accrues during this period. Further, SBA offers loans with long-term repayments to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

What is The Process?

The loan process can be found HERE.


For assistance with your application, you can call the SBA Disaster Assistance Customer Service Center at 1-800-659-2955 or email for more information on SBA disaster assistance.


Loan Deferment Programs

SBA 7(a) borrowers experiencing temporary cash flow issues may be granted a deferment of up to six (6) consecutive months.  504 loan borrowers may be granted a deferment amount of up to 6 cumulative monthly payments or 20% of the original loan amount.