Coronavirus/COVID-19 Information

We are constantly monitoring the COVID-19 guidelines making sure we protect our employees and customers. Please review this page periodically for up-to-date information on the SBA PPP loan program and branch communications.

Louisiana Main Street Recovery Grant Program 7/28/2020

Eligibility Quiz and full details at:

Eligibility Requirements:

  • Grant can be used for COVID-19 related expenses…not loss of revenue
  • Must provide invoices and expenses for reimbursement up to $15,000
  • The first 21 days have been set aside for businesses that have not received any COVID-19 related aid…however you can apply immediately to hold your place in line
  • $40MM reserved for the first 60 days for minority owned and veteran owned businesses
  • Were domiciled in Louisiana as of March 1, 2020
  • Suffered an interruption of business
  • At least 50% owned by one or more Louisiana residents
  • Filed Louisiana taxes in 2018 or 2019 or will file taxes in 2020
  • Had no more than 50 full-time employees as of March 1, 2020
  • Have customers or employees visit a physical location
  • Are not part of a bigger business with more than 50 full-time workers
  • Does not exist for the purpose of advancing partisan political activity and does not directly lobby federal or state officials
  • Does not derive income from passive investments without active participation in business operations

Contact Information

www.LouisianaMainStreet.com
Program Call Center: 888-795-4947
Treasury Main Line: 225-342-0010

SBA Paycheck Protection Program Loans

The Paycheck Protection Program is a forgivable loan program designed to help small businesses with payroll and certain other expenses during the COVID-19 crisis. The deadline to apply for a PPP loan has been extended through August 8, 2020. Please review this page and the SBA Paycheck Protection Program webpage for the latest information.

Loan Details and Forgiveness

Loan Details

  • Loan amounts are based on the business’s average monthly payroll.
  • PPP loans have an interest rate of 1%.
  • Loans issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.
  • Loan payments are deferred for a minimum of 6 months, up to 10 months after the loan’s eligibility period.

Applying for Loan Forgiveness

Loan forgiveness is not automatic or guaranteed. Borrowers must adhere to Program guidelines and submit a fully documented application through Citizens National Bank for our review, approval and submission to SBA.

Requirements:

  • Loans are eligible for forgiveness if the funds are used for payroll, interest on mortgage and certain other business loans, rent and utilities, provided at least 60% of the proceeds are used for payroll and the business maintained its employee and salary levels.
  • Loan forgiveness applications may be submitted after the proceeds have been fully exhausted, through the maturity date of the loan.
  • Borrowers are required to submit a Loan Forgiveness Application and supporting documentation to be considered for loan forgiveness. Required documentation is outlined in the “Form Instructions” links provided below. Please review the instructions to determine which application form to submit.

Beginning August 10, qualified Borrowers may submit a fully documented Loan Forgiveness Application through their Account Officer or by uploading here: PPP Forgiveness Application Link

Agent Fees

SBA defines agents as a “loan packager, accountant, attorney, consultant, engineer, architect, appraiser, or any other party that receives compensation from representing an Applicant for an SBA disaster loan”. An Applicant’s accountant for the preparation of financial statements or tax returns required by the Applicant in the normal course of business is not considered an agent by SBA.

Agents requesting payment in connection to PPP loan applications may submit:

  • Signed W-9 form identifying and certifying the tax ID of the agent’s firm.
  • Completed SBA Form 159 (04-18), signed by the Applicant and Agent.
  • Itemized invoice including a detailed explanation of the work performed, hourly rate and number of hours spent working on each activity.
  • For payment requests over $2500.00, agents with professional designations may be required to provide evidence of current professional liability insurance.
  • Payment requests may be submitted to the Applicant’s Account Officer or uploaded by clicking this link: CNB SBA PPP LINK.

Payment for requests made in accordance with PPP and SBA SOP 50 10 guidelines will be remitted by mail at the Agent Address indicated, provided Citizens National Bank has received the Lender Fee for the Applicant’s loan.

Bank Information Guidelines

June 1, 2020 all branch lobbies will be open.

For lobby hours please go to: https://www.citizensnb.com/locations.

For the Health and Safety of our customers and employees we ask that you please follow the guidelines below when visiting our lobbies. You might be asked to temporarily remove your mask for identification purposes.

We highly encourage self-monitoring for COVID-19 symptoms. If you feel sick please utilize our drive-thru.

  • We encourage you to wear a mask while doing business in the bank
  • Practice social distancing by standing 6 feet apart
  • Please stay in customer designated areas of the branch lobby
  • Sanitizer is available to be used before and after transactions

For Drive-thru hours:  https://www.citizensnb.com/locations/