Home Download Acrobat Reader 5.0 or higher to view .pdf files. Limestone Bank PERSONAL COMMERCIAL ABOUT US Open Search Toggle Online Banking Login Updated March 15, 2021 Paycheck Protection Program Resumes The SBA announced that it has resumed accepting PPP loan applications. The information provided below is a summary of the updates and resources for both first-time and second-time borrowers. For more information, please visit the PPP page on SBA.gov (Opens in a new Window) . SBA PPP Loan Amount Calculation and Eligibility (Updated 3/3/21) (Opens in a new Window) First-Time Borrowers This latest update from the SBA allows new borrowers to use 2019 or 2020 for purposes of calculating their maximum loan amount. The last day to apply for and receive a PPP loan is extended to March 31, 2021. In general, borrowers can have no more than 500 employees and their business must have been in operation as of February 15, 2020. The first loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $10 million loan maximum. Download Revised PPP Borrower Application 2483 (Updated 3/3/21) (Opens in a new Window) Download PPP Borrower Application 2483-Schedule C (3/3/21)* (Opens in a new Window) *For borrowers who file IRS Form 1040, Schedule C Second-Time Borrowers Businesses can apply for a second loan whether or not they have requested Forgiveness. All businesses applying for a second PPP loan must show that their business revenue declined by at least 25% in 2020 compared to 2019. Download Revised Second Draw Borrower Application 2483-SD (Updated 3/3/21) (Opens in a new Window) Download Second Draw Borrower Application 2483-SD-Schedule C (3/3/21)* (Opens in a new Window) *For borrowers who file IRS Form 1040, Schedule C The following borrowers can reapply or request an increase in their PPP loan amount: a. If a borrower returned all of a PPP loan, the borrower may reapply for a PPP loan in an amount the borrower is eligible for under current PPP rules. b. If a borrower returned part of a PPP loan, the borrower may reapply for an amount equal to the difference between the amount retained and the amount previously approved. c. If a borrower did not accept the full amount of a PPP loan for which it was approved, the borrower may request an increase in the amount of the PPP loan up to the amount previously approved. Updated January 20, 2021 Paycheck Protection Program: Loan Forgiveness In response to the overwhelming impact of COVID-19 on small business owners, the Coronavirus Aid, Relief & Economic Security (CARES) Act, was passed by Congress and signed into law in order to provide federally-backed funding to small businesses and nonprofits in need. On January 19, 2021, the SBA issued revised 3508 and 3508EZ Forms. The SBA also released a revised 3508S Form, which is now for loan amounts of $150,000 or less. To apply for forgiveness of your PPP loan, you (the Borrower) may use the applicable Form and complete the application and submit it to your Lender. Form instructions are now included within each application document, which we have provided for you in the Loan Forgiveness Resources section of this page. Borrowers must also submit the required supporting documents outlined in the application instructions, including: Payroll (provide documentation for all payroll periods that overlapped with the Covered Period or the Alternative Payroll Covered Period): Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees Tax forms (or equivalent third-party payroll service provider reports) for the periods that overlap with the Covered Period or the Alternative Payroll Covered Period: Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and State quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state Payment receipts, cancelled checks, or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that the borrower included in the forgiveness amount Non-payroll (for expenses that were incurred or paid during the covered period and showing that obligations or services existed prior to February 15, 2020): Business mortgage interest payments: Copy of lender amortization schedule and receipts verifying payments, or lender account statements Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments Business utility payments: Copies of invoices and receipts, cancelled checks or account statements This list of documents required to be submitted to the Lender is not all-inclusive. This update is being provided as a convenience. This information does not, and is not intended to, constitute legal advice; instead, all information, content, and materials are for general informational purposes only. Limestone Bank does not assume, and expressly disclaims, any responsibility for these and any future updates to you. You should contact your attorney to obtain advice with respect to any particular legal matter herein. Limestone Bank gives no warranty and accepts no responsibility or liability for the accuracy or the completeness of the information and materials contained herein. All liability with respect to any action taken or not taken based on the content above are hereby expressly disclaimed. Loan Forgiveness Resources Form 3508 (Updated 1/19/21) (Opens in a new Window) Form 3508EZ (Opens in a new Window) (Updated 1/19/21) (Opens in a new Window) Form 3508S^ (Updated 1/19/21) (Opens in a new Window) ^Form 3508S Application only for borrowers with a loan amount of $150,000 or less. PPP Loan Forgiveness FAQs (Opens in a new Window) We're Here to Help. Rest assured, the health and well-being of our customers, our employees, and members of the community is our highest priority. We are closely monitoring the evolving circumstances surrounding COVID-19 and will continue to follow the recommendations from the CDC. Below are number of banking services and resources that may be of interest to you as we all do our best to stay safe and healthy. Curbside Banking Online & Mobile Banking Bank by Phone Keep your finances safe. At Limestone Bank, we’re dedicated to giving your money the security it deserves. Even though things may feel a bit uncertain this year, remember that the safest place for your money is inside an FDIC-insured bank. FDIC FAQ for Bank Customers (Opens in a new Window) Guard against fraud. We're here to help remind you to guard against fraud and potential cyber criminals who are trying to take advantage during this time. Follow us on Facebook for scam alerts to be aware of, and resources to help keep you protected. And remember, if you ever have any concerns, please call us immediately. Consumer Scam Alerts (Opens in a new Window) Still have questions? Learn more about the Coronavirus Aid, Relief, and Economic Security (CARES) Act by visiting the U.S. Treasury PPP Guidance Page. Find out more (Opens in a new Window) Additional Resources Get the latest updates from the Centers for Disease Control & Prevention (CDC). CDC Coronavirus Page (Opens in a new Window) Visit the official Team Kentucky source for information concerning COVID-19. Team Kentucky Covid-19 Page (Opens in a new Window) Access the Consumer Financial Protection Bureau (CFPB) for resources to help you make financial decisions. CFPB Coronavirus Page (Opens in a new Window) BACK TO THE TOP Limestone Bank NMLS ID #450016 ROUTING #083903894 COMPANY Privacy Security Disclosures Legal SOCIAL Facebook (OPENS IN A NEW WINDOW) LinkedIn (OPENS IN A NEW WINDOW) Member FDIC Equal Housing Lender © 2021 Limestone Bank Created by Banno FIND US CONTACT US OPEN ACCOUNT (OPENS IN A NEW WINDOW)