Business Lending Services

Helping local businesses grow and prosper since 1853

Collinsville Bank offers a sophisticated suite of lending products that can help you take your business to the next level. With local decision makers and deep roots in the community, we offer flexible loan and credit packages on a personalized basis.

Paycheck Protection Program

Forgiveness Overview

Collinsville Bank would like to now present to you an automated PPP Forgiveness solution that will allow you to provide the information required, including the Forgiveness Application, required documentation, and communication with the bank. Developed by our core processor, this solution will streamline the process and maintain all of the information and communication in one place.

The application will walk you through a series of questions that, based on your answer, will complete the proper form. You will still need to complete the worksheet with the payroll details and provide the necessary documentation. Please check with your payroll processor, as they are likely to have developed specialized SBA PPP reports providing the required information. These reports will be accepted by the SBA and will streamline the process. If you have questions, please contact us at:.

Forgiveness Application

The SBA has indicated they will begin accepting forgiveness applications on August 10th; we encourage you to begin the forgiveness process before that time and as soon as possible to ensure all information is correct and validated as forgivable.

To begin your application, please click the following link:

Your login credentials are as follows:

  • Tax ID Number
  • SBA Approval Number (found on the first page of your promissory Note)
  • The Loan Amount

Please be advised of the following:

  • You can sign in and out of your application as many times as you want and make changes to it
  • If you choose, an advisor, such as your accountant, can work on the application for you. You will need to share the sign on credentials.
  • There is a section near the end of the application that allows you to upload your supporting documents. All documents need to be uploaded into the system. We cannot accept paper or emailed documents.
  • You will receive a secure message from Bank staff who are reviewing your Application if they have any questions or need additional documentation.
  • Once the application is complete and ready to be submitted, you will electronically sign it. It will automatically be submitted to the bank for review. You will have the opportunity to modify the application even after you submit it.

If you have questions, please contact us at:.

Forgiveness Documentation Needed

Below is a list of documentation that may be required depending on your specific loan circumstances.

  • Many payroll processors are providing specialized payroll reports for Worksheet A schedules for periods including the Covered Period, the Reference Period, and the first quarter of 2020. We encourage you to use these schedules if available.
  • 941 Quarterly Payroll Returns for the covered periods.
  • If there are issues with retaining or rehiring employees you will need to provide documentation including copies of offer letters and filings to the State Department of Labor.
  • Benefit payroll costs need to be documented with copies of cancelled checks, general ledger listings, and paid bills.
  • Only interest paid on mortgages is allowed, so please include a statement that breaks out the principal and interest payments.
  • For rent payments, you will need to provide a copy of the lease.
  • Utility payments include natural gas, electricity, water, internet, phone, and gasoline for business vehicles, and any expense for automotive expense deduction on your tax return. We have not found in any Guidance for the inclusion of Security Systems or Cell Phones.

If you have questions, please contact us at:.