As the financial effects of the COVID-19 pandemic take hold, several new assistance programs are being announced at the federal, state, and local level. We are compiling this information here for your convenience. Please bookmark this page, as it will be updated regularly.
First Security Bank & Trust is taking several steps to help customers through the coronavirus pandemic and related economic downturn. Many of these efforts will be implemented on a case-by-case basis, and customers should contact their lender or banker for more information or to request assistance. An appointment can also be requested from our Contact Us page.
AGRICULTURE-RELATED RELIEF PROGRAMS
The US Secretary of Agriculture has set up a "one-stop shop" for USDA coronavirus relief measures. See the federal resource guide here: https://www.rd.usda.gov/sites/default/files/USDA_COVID-19_Fed_Rural_Resource_Guide.pdf
The IRS has created a clearinghouse of information regarding who will receive these payments and when. Access the portal here.
Update May 5: The US Small Business Administration announced that agricultural businesses are now eligible for the Economic Injury Disaster Loans through the SBA. This includes the EIDL Advance, which is fully forgivable. The EIDL portal is now open for applications after more funding was approved through the Paycheck Protection Program and Healthcare Enhancement Act. More information can be found her:
The SBA is accepting COVID-19 Economic Injury Disaster Loans at this link: https://covid19relief.sba.gov/#/
Please contact us if you are interested in applying for this program. We've created a separate page to go into further detail here: https://www.1stsecuritybank.com/about/news/news_details/?news_cat=news&news_article=paycheck_protection_program:_getting_started
The application deadline for the Iowa Small Business Relief Program has passed, but there is information on several other opportunities and resources including an application for deferral of eligible taxes and waiver of penalty and interest at this link: https://www.iowaeconomicdevelopment.com/our-agency-detail-resources/6710
Information on the Economic Injury Disaster Loan Program, SPA Express Bridge Loans can be found here: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
Visit the Department of Education's COVID-19 response page to see terms for student loan relief and to apply: https://studentaid.gov/announcements-events/coronavirus
Read the Iowa Bankers Association's statement on the coronavirus pandemic here.
*Please be advised that you are leaving First Security Bank and Trust's website. These links are provided as a courtesy. First Security Bank and Trust does not endorse or control the content of third party websites.