Small Business Support
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Wisconsin COVID 19 Information
As of Tuesday, May 4, 2021, the Small Business Administration (SBA) has announced that the Paycheck Protection Program (PPP) funding has been exhausted for all institutions except community financial development institutions (CFDIs) and minority depository institutions (MDIs).
The forgiveness portion of the PPP program is available and we have included forgiveness applications, instructions, and FAQ’s below. Should you have any questions, please contact Jason Grossklaus and Nellie Weiss. They will also be reaching out to you during the forgiveness process.
- Jason Grossklaus (608) 797-3117
- Sr. Business Loan Specialist
- Nellie Weiss (920) 323-9418
- Relationship Development Specialist
How and when to apply for loan forgiveness
A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments with UnitedOne.
To apply for loan forgiveness:
1. Complete the correct form:
The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements.
Please contact Jason Grossklaus (608) 797-3117 or Nellie Weiss (920) 323-9418 for further guidance on how to submit the application.
2. Compile your documentation:
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 our our UnitedOne business team is not all-inclusive.
3. Submit the forgiveness form and documentation to Jason Grossklaus:
Complete your loan forgiveness application and submit it to our Sr. Business Loan Specialist Jason Grossklaus with the required supporting documents and follow up with Jason to submit additional documentation as requested. For additional guidance and provide requested documentation in a timely manner, please contact Jason Grossklaus (608) 797-3117 or Nellie Weiss (920) 323-9418.
What every Paycheck Protection Program borrower should do after receiving a loan:
5 Things After Receiving A PPP Loan