In response to the overwhelming impact of COVID-19 on small business owners, the Coronavirus Aid, Relief & Economic Security (CARES) Act, was recently passed by Congress and signed into law in order to provide up to $350 billion in federally-backed funding to small businesses and nonprofits in need. The Payment Protection Program (PPP) funding will be facilitated by the Small Business Administration (SBA) and will include provisions delaying, deferring, or the outright forgiveness of principal on certain loans to small businesses – however the final guidelines of the program have yet to be released.
At Limestone Bank, this a top priority, and we will be ready to assist you. We will continue to update this page as new information becomes available from the SBA in the coming days and weeks.
Interested in a PPP Loan? If you are interested in a PPP Loan, below is a list of information that you can begin to collect in preparation:
Step One: Complete the PPP Application Step Two: Gather IRS Form 941 for tax year 2019, a current payroll register for year 2020 or equivalent information documentation detailing the business’ employees that verify the number of Full Time Equivalent (FTE) employees, employed during certain relevant periods and the compensation you paid them; Step Three: Gather organization documents like Articles of Incorporation, as well as Driver’s license and a secondary form of ID.
Looking Ahead One of the expected opportunities of this Act is the potential forgiveness of a PPP loan. Please reference the treasury documents included below for more information.We suggest you pay special attention to the document retention requirements.
If you have any immediate questions about the program, please contact your local Loan Officer. In the meantime, here are a number of resources provided by the U.S. Department of Treasury to help familiarize yourself with this program:
To Our Customers:
We understand you may feel a bit of uncertainty surrounding the spread of Coronavirus (COVID-19) in the US, and specifically, the communities we serve. We can assure you that at Limestone Bank the health and well-being of our customers, our employees, and members of the community are our highest priority. We are closely monitoring the evolving circumstances surrounding COVID-19 and following the recommendations from the Centers for Disease Control (CDC).
Beginning Thursday, March 19th, our banking centers will begin providing all services via drive-thru lanes only.
All drive-thrus will continue with normal business hours. To find a banking center with drive-thru services nearest you, visit our locations page.
If your banking needs cannot be completed via drive-thru, please contact your local branch to set up an appointment. Below are several other ways you can access your account with Limestone Bank:
Telephone banking: Available 24/7 at 877-238-7564.
Customer Resource Center (CRC): Speak directly with a member of our team by calling the CRC at 877-369-2265, open Monday-Friday 8a – 6p ET and Saturday 9a – 1p ET.
Online & Mobile Banking: If you haven’t done so already, enroll your online account, so you may begin accessing your account information from your computer. You may then download our mobile app from the Apple app store or the Google app store to access your account information on your mobile device.
We're Here to Help.
At Limestone Bank, we’re dedicated to giving your money the security it deserves. Remember, the safest place for your money is inside an FDIC-insured bank. Your deposits at Limestone Bank are insured up to $250,000. Even though things may feel a bit uncertain right now, you will consistently be able to access your available funds whether its directly from a banking center, ATM, or via our suite of digital banking services. The FDIC recently published this FAQ document echoing the sentiment, and included a number of helpful resources for bank customers.
We also understand you may find yourself in financial hardship specifically related to the circumstances surrounding COVID-19, We also understand you may find yourself in financial hardship specifically related to the circumstances surrounding COVID-19, and we want you to know, we’re here to help. We encourage any customer who may be impacted financially to reach out to discuss how we may be of assistance.
We are now offering specific programs to provide some much-needed hardship relief for eligible customers who have a need that is driven We are now offering specific programs to provide some much-needed hardship relief for eligible customers who have a need that is driven by COVID-19, such as:
applicable consumer mortgages for owner-occupied single-family residences will not be subject to foreclosure action until after June 30, 2020
To learn more and find out if you are eligible, contact your local branch to speak directly with a Loan Officer.
At Limestone Bank, supporting our customers and keeping your money safe during these uncertain times is our top priority – that’s why we’re also reminding customers to guard against fraud and cyber criminals who are trying to take advantage during this time. Check out this resource created by the Federal Trade Commission, including tips on how to spot scammers. Keep your financial information safe, and if you ever have any concerns, please call us immediately.
We will continue to do our best to make necessary adjustments during this evolving situation, and we will provide you with any new information as necessary.