Chat With Us Reorder Checks
Online Banking Enroll Now



Updated 4/28/20

The Coronavirus Aid, Relief and Economic Security Act or CARES Act became law on March 27, 2020 and allocated $349 billion to the Small Business Administration (SBA) to help small businesses keep workers employed under the new Paycheck Protection Program. Congress recently approved an additional $310 billion in funding to restore the PPP, which had run out of money on April 16. The SBA resumed accepting applications on April 27, 2020.

State Nebraska Bank & Trust is an existing SBA Certified Lender and can assist you with these PPP Loans.  As we continue to learn more from the SBA about how this new program will be administered, we will do our best to help you through the process.  Know that we are committed to you and our community during these challenging times.  Please call us with your questions at 402-375-1130.




Guidance from the U.S. Treasury outlines Assistance for Small Businesses under the SBA’s Paycheck Protection Program (PPP).  We encourage you to review these resources to help you apply for a PPP Loan:


Note, all loan terms will be the same for everyone under this new SBA program.




See below for frequently asked questions about the SBA’s Paycheck Protection Program.

What is the Paycheck Protection Program?

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits, and to pay interest on mortgages, rent and utilities.

Is the loan fully forgiven?

Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

What is loan forgiveness based on?

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

When can I apply?

Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. On April 27, 2020, the SBA resumed accepting applications. We encourage you to apply as quickly as you can because there is a funding cap.

How do I apply?

You can apply through State Nebraska Bank & Trust, which is an existing SBA 7(a) lender.  Call us at 402-375-1130 to speak with a loan officer. We thank you for your patience as we do our best to understand this new program and await final instruction from the SBA on procedures. Note, all loans will have the same terms regardless of lender or borrower.

How much can I borrow?

Loans can be for up to two months of your average monthly payroll costs from the last year plus an additional 25% of that amount. That amount is subject to a $10 million cap. If you are a seasonal or new business, you will use different applicable time periods for your calculation. Payroll costs will be capped at $100,000 annualized for each employee.

What are the next steps?

As we continue to learn more about how this new program will be administered, we will do our best to assist you. We are committed to helping you determine if this program makes sense for your business Call us at 402-375-1130 to speak with a loan officer.  We encourage you to contact your accounting and/or legal professionals for implications to your business.




The SBA’s Economic Injury Disaster Loan (EIDL) will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties as a result of the COVID-19 pandemic.  This loan advance will not have to be repaid.  These loans are processed directly through the SBA.   To apply for a COVID-19 Economic Injury Disaster Loan, click here.

An applicant may receive EIDL funds and SBA loans under other programs (such as the Paycheck Protection Program) if the basis for the loans/costs being paid with each are different (that is, you cannot borrow for the same purpose).  For more information about the EIDL, click here.




For more information, we recommend the following resources:

U.S. Small Business Administration

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

U.S. Chamber of Commerce

Coronavirus Small Business Survival Guide

Coronavirus Emergency Loans Small Business Guide & Checklist

U.S. Government Coronavirus Hub



 Approved to offer SBA loan products under SBA’s Certified Lender program.


Contact our team of Loan Officers to get started today.

Ron Gentrup

Ron Gentrup

Executive Vice President & Chief Lending Officer

NMLS #776159

Mark Sorensen

Mark Sorensen

Vice President & Loan Officer

Jason Claussen

Jason Claussen

Vice President & Loan Officer

NMLS #780212

Alex Salmon

Alex Salmon

Assistant Vice President, Loan Officer & Head of Outside Loan Assets

NMLS #1403714