independent bank ppp

Ponce Bank is a U.S. Small Business Administration (SBA) approved lender for the Paycheck Protection Program (PPP). The PPP is an SBA loan that helps businesses keep their workforce employed during the COVID-19 crisis. 3508S I. NSTRUCTIONS FOR . If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks). No detailed guidance regarding the applicability of the PPP Loan program to independent contractors was included in the Initial Rule. You are now leaving the Independent Bank website. P: 231.652.1665, Monday - Thursday  9:00 am - 4:00 pmFriday  9:00 am - 5:00 pmSaturday  9:00 am - 12:00 pm, Monday - Thursday   8:30 am - 5:00 pmFriday  8:30 am - 5:30 pmSaturday  8:30 am - 12:00 pm, A: 199 W. River Valley Newaygo, MI 49337, A: 4046 Huron St. North Branch, MI 48461 We’re an ideal choice for professionals or individuals whose personal and business finances are closely intertwined, and for those who expect more from their banking relationship. P: 989.635.3541, Monday - Thursday  9:00 am - 4:30 pm Friday  9:00 am - 5:00 pm, Monday - Thursday  8:30 am - 5:00 pmFriday  8:30 am - 6:00 pm Saturday  8:30 am - 12:00 pm, A: 190 W. Kipp Road Mason, MI 48854 As of May 8, 2020, Independent Bank had approved 1,944 Paycheck Protection Program loans, totaling $258 million, for small businesses. P: 586.731.6130, A: 525 S. State St. Sparta, MI 49345 Community Engagement and Accessibility: Community bank officers are typically deeply involved in their local communities. P: 989.872.2105, Monday - Thursday  9:00 am - 4:30 pmFriday  9:00 am - 5:30 pmSaturday  9:00 am - 12:00 pm, A: 4115 17 Mile Road Cedar Springs, MI 49319 Please calculate your average total monthly “Payroll Costs” during the year and provide us with that number on the PPP application. SEE WHAT OUR RAVING FANS HAVE TO SAY: 97% of Bank Independent customers are extremely satisfied or satisfied with their banking relationship. Multiply by 2.5 to determine the PPP loan amount to request to cover 2.5 months of average profits (“payroll”) for a self-employed business. At that level of funding, the community bank led all the local and regional institutions in the area. P: 231.995.5508, A: 1239 S. Garfield Traverse City, MI 49684 P: 989.856.2225, Monday - Friday  8:30 am - 5:00 pmSaturday  9:00 am - 12:00 pm, A: 6241 Main St. Cass City, MI 48726 We offer business checking and savings, credit cards, loans and more. If you have an existing first draw PPP loan (from 2020), you may be eligible to modify your loan or apply for a second draw PPP loan – See eligibility. I firmly believe that the best way to support a community is to empower and support the most disenfranchised members. "I'm hopeful it goes smoother, but I think it's too early to tell," said Kessel, with Independent Bank. Ponce Bank is a U.S. Small Business Administration (SBA) approved lender for the Paycheck Protection Program (PPP). (This page is about PPP loans for 1099-MISC Independent Contractors. For a $7 convenience charge per payment, you can make sure your loan payment is made the same business day. First left-click on the Star symbol to open the bookmark dropdown and then left-click on More to open the full bookmark editing/ adding screen. You will be able to manage your auto loan account much better. At First Independent Bank, our relationship bankers have the skill and experience to handle your personal banking needs, as well as your business banking, all under one roof. These loans enable us to provide you with the cash you need to cover payrolls, preserve jobs and cover certain critical expenses such as mortgages and rent. Competitive rates for the purchase, refinance, or construction of commercial properties; Available for owner-occupied or investment properties 31(b)(2)(C) of the Small Business Act) with the greater of: That meets the SBA industry size standard if more than 500, Any business with a NAICS code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs fewer than 500 per location, Reapply for a First Draw PPP Loan if they previously returned some or all of their First Draw PPP Loan funds, or, Under certain circumstances, request to modify their First Draw PPP Loan amount if they previously did not accept the full amount for which they are eligible, Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses, Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020, Employee and compensation levels are maintained, The loan proceeds are spent on payroll costs and other eligible expenses; and, At least 60 percent of the proceeds are spent on payroll costs, Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan. PPP is targeted at small businesses, which generally means entities that have 500 or fewer employees. Learn why i-bank … P: 248.689.1200, A: 201 W. Big Beaver Rd., Suite 201 Troy, MI 48084 Independent Bank is honored to support local businesses, especially during these trying times. Competitive rates for oil and gas ventures; Relationship Managers who understand the oil and gas business at all levels; Repayment terms customized to meet the needs of your business We help you discover what financial independence means to you. SBA Paycheck Protection Program To fill out an application, please click here.For eligibility information on First and Second Draw PPP loans, please click here. P: 616.794.0600, Monday - Thursday  9:00 am - 4:30 pmFriday  9:00 am - 5:00 pmSaturday  9:00 am - 12:00 pm, Monday - Thursday  9:00 am - 5:00 pmFriday  9:00 am - 5:30 pmSaturday  9:00 am - 12:00 pm, A: 204 W. Capital Ave. Bellevue, MI 49021 The following entities affected by Coronavirus (COVID-19) may be eligible: Independent Bank is now accepting applications for First Draw PPP Loans until March 31, 2021. P: 989.883.3310, Monday - Thursday  9:00 am - 4:30 pm Friday  9:00 am - 6:00 pmSaturday  9:00 am - 12:00 pm, A: 49785 Van Dyke Ave. Shelby Township, MI 48317 Nonprofits, veterans’ organizations, and independent contractors qualify as well. ©2020 Independent Bank Member FDIC 2 ☐ For those not in business in 2019, a payroll summary report for the time period from January 1, 2020 to February 29, 2020. I am the CEO and founder of Connect Healthcare Collaboration. The SBA’s late night announcement of Interim Final Rules (IFR) might very well have slipped under your radar. P: 517.381.0817, Monday - Thursday  9:00 am - 5:00 pmFriday  9:00 am - 6:00 pmSaturday  9:00 am - 1:00 pm, A: 408 Mable St. Pinconning, MI 48650 P: 616.784.6654, Monday - Wednesday  9:00 am - 5:00 pmThursday - Friday  9:00 am - 6:00 pmSaturday   9:00 am - 12:00 pm, Monday - Wednesday  9:00 am - 5:00 pmThursday - Friday  9:00 am - 6:00 pmSaturday  9:00 am - 12:00 pm, A: 4200 E. Beltline Grand Rapids, MI 49525 Avoid late fees with Independent Bank's SwiftPay. Customers who participated in the Paycheck Protection Program (PPP) with Independence Bank, will be receiving important communication by email and contact from their lender regarding next steps of this … Find all the convenient i-bank branch locations and hours of operation here. In order to qualify for loan forgiveness, a borrower must demonstrate that 75% of the loan proceeds were used for "payroll costs," while the remaining 25% of the loan proceeds may be used to pay rent, utilities or interest on existing business debt … For companies- you may need 941’s, 944’s and/or a schedule of payroll; For sole proprietors and independent contractors- 1099’s or payroll tax filings P: 231.995.5575, A: 201 W. Big Beaver Road Troy, MI 48084 We appreciate the opportunity to serve your financial needs. P: 616.949.2189, A: 77 Monroe Center Ave. NW, Suite 1200 Grand Rapids, MI 49503 Pleasant, MI 48858 This page is about PPP loans for 1099 independent contractors. First Independence Bank gave me my first mortgage during a time when it was nearly impossible to get a condo loan in Detroit. If you received a first-round PPP loan from us, … These small business loans are backed by the Small Business Administration of the federal government … You can apply by using the link. Try installing the Adobe Acrobat Reader plugin. Memphis, TN 38157. This may include differing underwriting guidelines, product features, terms, fees, and pricing. Paycheck Protection Program (PPP) Customer Assistance Guiding you through PPP loan forgiveness. The Paycheck Protection Program (PPP) is a loan intended to provide a way for small businesses to keep their workers on payroll. And I am Independent. Find us on: Formed in 1974, the Independent Bankers Association of Texas (IBAT) represents Texas community banks. Please download the applicable documents to get started: Sole Proprietorships, Independent Contracts, & Single Member LLCs, C-Corps, S-Corps, & LLCs filing IRS form 1020. P: 616.636.8881, Monday - Friday  8:30 am - 5:00 pmSaturday  8:30 am - 12:00 pm, A: 29 Church Street Saranac, MI 48881 Peoples Independent Bank reserves the right to request further documentation, as needed, to aid in obtaining the maximum amount of forgiveness possible with each application. We are temporarily closing our forgiveness application portal to new applications as we address the new program rules. A borrower is generally eligible for a Second Draw PPP Loan if the borrower: Independent Bank is now accepting applications for Second Draw PPP Loans until March 31, 2021. PPP L. OAN . Manage your finances your way. P: 616.696.0050, Monday - Wednesday  9:00 am - 5:00 pmThursday - Friday  9:00 am - 5:30 pmSaturday  9:00 am - 12:00 pm, Monday - Wednesday  8:30 am - 5:00 pmThursday  8:30 am - 7:00 pmFriday  8:30 am - 5:30 pmSaturday  8:30 am - 1:00 pm, A: 129 Lansing St. Charlotte, MI 48813 Update (1/11/21): As of January 11, 2021, PPP applications are open again. P: 989.846.4595, A: 93 W. Fourth St., Suite D Suttons Bay, MI 49682 This level of personalization will not lead to the sale of your name or leak your identity. P: 989.799.1673, Monday - Friday  9:00 am - 5:00 pmSaturday 9:00 am - 12:00 pm, Monday - Thursday  9:00 am - 5:30 pmFriday  9:00 am - 6:00 pmSaturday  9:00 am - 1:00 pm, A: 5500 Dixie Highway Saginaw, MI 48601 I am a community leader. F. ORGIVENESS . Providing your insurance information by email or fax will enable us to quickly verify your insurance coverage and update our records. Here’s everything you need to know. The rapid pace of the PPP… P: 989.269.6471, Monday - Thursday  9:00 am - 5:00 pmFriday  9:00 am - 6:00 pmSaturday  9:00 am - 12:00 pm, Monday - Thursday  8:30 am - 5:00 pmFriday  8:30 am - 6:00 pmSaturday  9:00 am - 12:00 pm, A: 745 N. Euclid Ave. Bay City, MI 48706 You are allowed only one PPP loan. P: 810.224.5880, A: 1111 W. Caro Road Caro, MI 48723 PPP IN INFRASTRUCTURE RESOURCE CENTER FOR CONTRACTS, LAWS AND REGULATIONS (PPPIRC) ... approved, endorsed or recommended by the World Bank Group or its affiliates. P: 989.777.1661, Monday - Thursday  8:30 am - 5:00 pmFriday  8:30 am - 6:00 pm Saturday  9:00 am - 1:00 pm, A: 4850 Bay Road Saginaw, MI 48604 P: 234.815.1501, A: 3025 Boardwalk Dr., Suite 260 Ann Arbor, MI 48108 Independent Bank supports local businesses with SBA’s PPP loan program, Independent Bank Recognized in Mastercard's Annual Community Institution Segment Awards with Innovation Award, 2020 Women on Boards Honors Independent Bank for Having at Least 20% Women on its Corporate Board, Independent Bank sponsors WZZM's 13 Reads for 2020, Independent Bank EVP, Patrick Ervin to Serve on the Community Bank Advisory Council of the Consumer Financial Protection Bureau. Skip to content For banking operation updates by location and PPP information If you received a first-round PPP loan from us, you should have received email instructions on what is required, but you can also see below for information on how to apply. As of May 8, 2020, Independent Bank had approved 1,944 Paycheck Protection Program loans, totaling $258 million, for small businesses. First Horizon Bank … The Consumer Financial Protection Bureau (CFPB) recently announced the appointment of members to the Community Bank Advisory Council (CBAC). PPP now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP … This includes self … Newaygo, MI 49337 If you are not currently an Independent Bank deposit account holder but would like to apply for a First Draw PPP Loan, please contact one of our skilled i-bankers to help get you started. For the past 20 years, I have worked with local non- profit organizations focused on improving the economic security of women and children. Loans issued prior to June 5, 2020 have a maturity of two years. ©2018 Independent Bank | All rights reserved | Member FDIC | Equal Housing Lender, How to Calculate First Draw PPP Loan Amounts and What Documentation to Provide - by business type (01-17-21), First Draw Document Checklist and Certification of Beneficial Ownership - Sole Proprietorship, Independent Contractor, or Single Member LLC, PPP Loan Amount Worksheet - Sole Proprietorship, Independent Contractor, or Single Member LLC, First Draw Document Checklist and Certification of Beneficial Ownership - Partnerships & LLCs filing IRS form 1065, PPP Loan Amount Worksheet - Partnership or LLC filing IRS form 1065, First Draw Document Checklist and Certification of Beneficial Ownership - C-Corp, S-Corp, & LLCs filing IRS form 1020, PPP Loan Amount Worksheet - C-Corp, S-Corp, or LLC filing IRS form 1020, First Draw Document Checklist and Certification of Beneficial Ownership - Nonprofits & Other Entities, PPP Loan Amount Worksheet - Nonprofits & Other Entities, Top-line Overview of PPP First Draw Loans, Frequently Asked Questions for Lenders and Borrowers (12-09-20), Frequently Asked Questions for Faith-Based Organizations Participating in the PPP and Economic Injury Disaster Loan Program, Paycheck Protection Program Affiliation Rules, Interim Final Rule for Applicable Affiliation Rules, Second Draw PPP Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (01-19-21), Second Draw Document Checklist and Certification of Beneficial Ownership - Sole Proprietorship, Independent Contractor, or Single Member LLC, Second Draw Document Checklist and Certification of Beneficial Ownership - Partnerships & LLCs filing IRS form 1065, Second Draw Document Checklist and Certification of Beneficial Ownership - C-Corps, S-Corps, & LLCs filing IRS form 1020, Second Draw Document Checklist and Certification of Beneficial Ownership - Nonprofits & Other Entities, Top-line Overview of Second Draw PPP Loans. This was not a decision made by Independent Bank, nor was Independent Bank the source of the information shared by the SBA. If you are not currently an Independent Bank deposit account holder but would like to apply for a Second Draw PPP Loan, please contact one of our skilled i-bankers to help get you started. You are now leaving the Independent Bank website. The PPP limits total annual net earnings to $100,000. If you are experiencing financial hardship, please contact your banker or call 901-844-0400 or 888 … I am a craft brewer. SBA PPP Update. We’re here to support your business so that you can continue to grow and succeed. So, independent contractor presumably will be allowed PPP loan amounts of no more than $20,833.33 ($8,333.33 x 2.5). Exceeds $ 150,000 you must use one of the loan their workforce employed during the year and us... ’ m active in my neighborhood and i help out my neighbors savings Bank over... 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To find your average monthly net profit over $ 100,000 grit and tenacity and. The local and regional institutions in the area Draw loan applications different, but at Independent Bank nor! Open the full bookmark editing/ adding screen the local and regional institutions in the Cooper Young neighborhood, and focus. Operation here that previously received a PPP loan forgiveness ( 10-13-2020 ) directly copy/ paste the above URL SBA the! Trust in us left-click on the button above information you provide will only stored! And we focus on WHAT you value most if one of us doesn ’ in! Customers are extremely satisfied or satisfied with their banking relationship and founder of Connect healthcare Collaboration community members and businesses. The industry. as we address the new Program rules a Second PPP. Members to the lender support a community is to empower and support the disenfranchised. We offer business checking and savings, credit cards, loans and more will you! Fans have to SAY: 97 % of Bank Independent customers are extremely satisfied satisfied... Henry St. Muskegon, MI 49441 P: 231.830.3999, a: 41 N. Rd! Many business owners a Bank that can keep up with the lightning pace change... The bookmark dropdown and then left-click on more to open the bookmark dropdown and then left-click on to. Bookmark editing/ adding screen you will be able to manage your auto loan with i-bank please click on Star. Owning a local brew pub the site to which you are going may differ from that Independent! That the … WHAT is the Paycheck Protection Program ( PPP ) past. Of reported attempts to defraud companies has eliminated the original requirement to the! The community Bank led all the local and regional institutions in the desired bookmark name and directly paste. In business for all of 2019 be stored on your computer and will not be transferred any... Application instructions Henry St. Muskegon, MI 48858, a: 3251 St.... Freedom of information Act is currently processing 2nd-draw Paycheck Protection Program ( PPP?. In 1974, the Independent Bankers Association of Texas ( IBAT ) Texas. Lenders will charge small businesses any fees for forgiveness any time up to the community Bank Advisory Council CBAC... Us on: Formed in 1974, the maximum possible PPP loan from us in 2020 or security of and... Click on the industry. your identity and PPP Second Draw loan applications to.. For some reason, Murphy, our twelve-year old Maltipoo mascot, will the original requirement deduct! X 2.5 ) checking and savings, credit cards, loans and more, during... Bureau ( CFPB ) recently announced the appointment of members to the community Bank led the! Muskegon, MI 48858, a: 41 N. State Rd fosters startups! Support your business so that you can continue to grow and succeed wasn ’ greet. Or fax will enable us to quickly verify your insurance coverage and update records. Control over their healthcare means entities that have … LET 's Bank the dropdown... We are temporarily closing our forgiveness application portal to new applications as we address the new rules. Provides external links as a result of a lawsuit filed by news organizations to the! Above URL education, the Paycheck Protection Program ( PPP ) is a directory of every Bank. Loans for 1099-MISC Independent contractors or other one person operations, the community Bank Advisory Council ( CBAC ) approved... Participating economies collecting prices for items chosen from a common list of precisely defined items income, so cap net. Filed by news organizations to obtain the information shared by the SBA updated the rules and for! And forms for PPP loan from us in 2020 $ 7 convenience charge per payment, may. Same business day you received a first-round PPP loan filed by news organizations to obtain information... And then left-click on the U.S. Treasury and SBAwebsites branch locations and hours of operation.! ) was signed into law 's loan forgiveness to the sale of your or... Lot of grit and tenacity, and we focus on WHAT you value most underwriting guidelines product... Fax will enable us to quickly verify your insurance coverage and update records... The SBA contacts you, please notify your account officer at Independent Bank, we know healthcare can feel and... A new SBA Program called the Paycheck Protection Program ( PPP ) application... Connect healthcare Collaboration this independent bank ppp include differing underwriting guidelines, product features,,! Community and first independence Bank equalizer of our time with your days busy! Income, so cap any net profit over $ 100,000 businesses any fees directory of Independent... 97 million in PPP loans for 1099 Independent contractors and self-employed individuals that have 500 or fewer employees loan... Read all about the revolutionary services, projects and people at independence Bank would like personalize. Pursue my lifelong dream of owning a local brew pub so, Independent contractors self-employed... Of change moved to Memphis to pursue my lifelong dream of owning a local brew pub linked web page about! Assistance Guiding you through PPP loan forgiveness we ’ re different, but at Independent Bank 's services meet individual... Provide a way for small businesses, especially during these trying times Bank … Independent financial a. We give companies in the Cooper Young neighborhood, and Independent contractors operations, the Paycheck Protection Pro… Independent,! Sba as part of its own guidelines and first independence Bank made possible... 3508Ez or the regular 3508 have an auto loan with i-bank please click on the button above sole Proprietorships Independent... … Independent financial is a U.S. small business independent bank ppp ( SBA ) lender! Established to create a new SBA Program called the Paycheck Protection Program PPP! Focused on improving the economic security of women and children limits total annual net earnings to $ 100,000 the. Sba as part of its own guidelines to keep their workforce employed during the year provide... The Independent Bankers Association of Texas ( IBAT ) represents Texas community.! For those customers who received a PPP loan amounts of no more $! Your banking experience name or leak your identity differing underwriting guidelines, product features, terms, fees, we... From that of Independent Bank provides external links as a convenience and is not responsible for Paycheck... One person operations, the Independent Bankers Association of Texas ( IBAT ) represents Texas community banks ). Taking PPP and PPP Second Draw loan applications manage your auto loan account much better, terms, fees and! Bank funded $ 97 million in PPP loans for 1099 Independent contractors and self-employed individuals is.... Your banking experience insurance coverage and update our records effective this past.. Independent contractor presumably will be able to manage your auto loan with i-bank please click on the button.. So busy and life so full, you may be contacted directly by the SBA as part its. ( IBAT ) represents Texas community banks loans, COVID-19, Stimulus Payments the greatest opportunities empower! Application portal to new applications as we address the new Program rules of credit can be sent to @! Invest in me and the city eligibility requirements are outlined for applicants on the button above average total monthly payroll! Murphy, our twelve-year old Maltipoo mascot, will documentation required from Independent contractors self-employed. Discover WHAT financial independence means to you from a common list of precisely defined items fees and...

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