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    • Covid INFORMATION
    • About Us
      • Get Involved
      • Contact
      • Committees
      • Board
    • Become a Friend
      • Friends
      • How To
    • Available Buildings
    • Leadership Newkirk
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  • Home
  • Covid INFORMATION
  • About Us
    • Get Involved
    • Contact
    • Committees
    • Board
  • Become a Friend
    • Friends
    • How To
  • Available Buildings
  • Leadership Newkirk
  • Privacy Policy

Covid-19 Information

City of Newkirk Emergency Measures Phase 2 (docx)

Download

Letter to Citizens from the City of Newkirk (docx)

Download

Paycheck Protection Program FAQ 5/19/2020 (pdf)

Download

Paycheck Protection Program Borrower Application (pdf)

Download

Paycheck Protection Program Interim Final Rule (pdf)

Download

Paycheck Protection Program Forgiveness Application (pdf)

Download

Oklahoma's Open Up & Recover Safely Plan (pdf)

Download

Restaurant Reopening Guidelines from the National Restaurant Association (pdf)

Download

Place of Worship Pledge (docx)

Download

Restaurant Pledge (pdf)

Download

Paycheck Protection Program Application

The above Paycheck Protection Program Application may not be accepted by your financial institution. This document has been provided by the US Treasury as a sample to prepare businesses for the information that will be needed to complete applications starting April 3rd, 2020.

 The following information is not to be considered financial advice. It is intended to help educate local business owners to the available options through the Small Business Administration, United States Department of Agriculture, and local lenders. Please consult with your financial advisor to determine the appropriate course of action for your business. More information can be found at https://www.sba.gov/ & https://www.farmers.gov/coronavirus

Unemployment Information

For employees

https://oesc.ok.gov/#applicationrequirements

For employers

https://www.ok.gov/oesc/Businesses/index.html

Reopening Guidance

Interim Guidance for Businesses and Employers

https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html

General Business FAQ

https://www.cdc.gov/coronavirus/2019-ncov/community/general-business-faq.html

CDC PRINT RESOURCES

https://www.cdc.gov/coronavirus/2019-ncov/communication/print-resources.html?Sort=Date%3A%3Adesc&CDC_AA_refVal=https%3A%2F%2Fwww.cdc.gov%2Fcoronavirus%2F2019-ncov%2Fcommunication%2Ffactsheets.html

SBA ECONOMIC INDUSTRY DISASTER LOAN (EIDL)

Who should apply

 Businesses of all sizes may apply for a Physical Disaster Loan and small businesses, small agricultural cooperatives and  private non-profit organizations may be eligible for economic injury. It is being recommended that all businesses apply once they determine that they meet size eligibility requirements.

Agricultural businesses are now eligible to apply.

Businesses with multiple LLCs or locations should file applications per tax returns; If you have multiple locations and file a single tax return, file a single application. If you have multiple locations and file multiple tax returns, file an application for each location/tax return.

How much is the loan

Loans will not exceed $2 million to repair economic injury.  Loan amounts will be determined by the SBA. They are seeking to provide business with 6-12 months of working capital.

what are the terms

-up to 30 years terms

-3.75% interest rate for businesses, 2.75% interest rate for non-profits

-First payment waived for 12 months

-works as Line of Credit: you do not have to take any/all of the funds you are approved for

-No points, no closing costs, no fees, no prepayment penalties

-20% or more ownership must personally guarantee

how do i apply

The application can be completed online at https://covid19relief.sba.gov/#/

Paycheck Protection Program

From February 15th, 2020 through June 30th, 2020 the SBA may provide 100% federally backed loans to help businesses pay operation costs. 

Who is Eligible

Businesses, non-profit organizations, veteran's organizations or tribal concerns that:

  • Have 500 or fewer employees including full-time, part-time, freelance, and gig economy workers
  • Meet employee size standard established by the SBA for the industry in which the business operates per NCAIS code
  •  Sole proprietorships, self-employed individuals, and independent contractors  are also eligible

Terms

  • Fixed interest rate of 1.00%
  • All loan payments deferred for 6 months
  • Maturity at 2 years
  • Possible debt forgiveness up to 100% as outlined in the downloadable information above or the "Debt Forgiveness" portion of this document.

Program Features

  • SBA guarantee and ongoing service fees are waived
  • Possible debt forgiveness up to 100%
  • 100% loan guaranty
  • Maximum loan amount of $10 million
  • Loan amount determined by borrower's total average monthly payroll costs for the most recent 12 months, excluding compensation above $100,000 a year employees times 2.50, plus the outstanding amount of an Economic Injury Disaster Loan (EIDL) between January 31st, 2020 and the date that the Paycheck protection Program loans are available to refinance the EIDL loans
  • No collateral or personal guarantees required
  • No "credit elsewhere" test

Loan Requirements

  • is necessary to continue operation during the Covid-19 emergency
  • funds will be used to retain workers, maintain payroll, and make mortgage, lease, and utility payments.
  • applicant may not have any other application pending under this program for the same purpose
  • lender must consider whether the borrower was operating on February 15th, 2020 and had employee or independent contractors for whom the borrower paid

Use of Loan proceeds

  • payroll costs (certain exclusions may apply)
  • costs of continued group health care benefits during periods of paid sick, medical or family leave
  • salaries, commissions, or other similar compensation
  • payment of interest on mortgage obligations
  • rent/lease payments
  • utilities
  • interest on other debt obligations incurred before the covered period
  • costs of continued group health care benefits during periods of paid sick, medical or family leave

Debt Forgiveness

 The program provides for possible debt  forgiveness of eligible expenses of small businesses. The below  information is a summary of the debt forgiveness process, but is not a  comprehensive list of all requirements or details of the process.  Further information regarding the debt forgiveness process will be  coming soon.  
This program provides the opportunity for  indebtedness to be forgiven, and not taxed in an amount not to exceed  the principal amount of the loan, equal to the costs incurred and  payments made during the covered period on:
  

  • Payroll costs 
  • Interest payments on mortgages 
  • Rent 
  • Utility payments 

Forgiveness amounts will be reduced for any employee  cuts or reductions in wages. To substantiate their fixed expenses,  borrowers will have to provide source documentation for payroll expenses, rent and mortgage payments, and utility expenses as well as proof of  payment for those expenses to the lender that is servicing the loan. If  the expenses are approved, the SBA will purchase that portion of the  debt from the bank and reduce the borrower's loan principal. Forgiveness  may not be provided for expenses that do not qualify under one of the  above listed expense categories. 

How to Apply

  • contact your local banker
  • https://www.mybankcnb.com/Loans/Business-Loans 
  • https://www.equitybank.com/sba
  • https://rcbbank.com/sba-paycheck-protection-program/

Coronavirus Food Assistance Program (CFAP)

Who should apply

Eligible producers (person or legal entity) of specified agricultural  commodities outlined above who have suffered a five percent-or-greater  price decline as a result of the COVID-19 pandemic, and who face  substantial marketing costs for inventories, are eligible for CFAP  payments.

To be eligible for payments, a person or legal entity must have an  average adjusted gross income of less than $900,000 for tax years 2016,  2017, and 2018. However, if 75 percent of their adjusted gross income  comes from farming, ranching, or forestry, the AGI limit of $900,000  does not apply.

Persons and legal entities also must:

  • comply with the provisions of the “Highly Erodible Land and  Wetland Conservation” regulations, often called the conservation  compliance provisions;
  • if a foreign person, provides land, capital, and a substantial amount of active personal labor to the farming operation; and
  • not have a controlled substance violation.

CFAP will provide vital financial assistance to producers of agricultural commodities who have suffered a five-percent-or-greater price decline or who had losses due to market supply chain disruptions due to COVID-19 and face additional significant market costs. Eligible commodities include:

  • Non-specialty Crops: malting barley, canola, corn, upland cotton, millet, oats, soybeans, sorghum, sunflowers, durum wheat, and hard red spring wheat
  • Wool
  • Livestock: cattle, hogs, and sheep (lambs and yearlings only)
  • Dairy
  • Specialty Crops
    • Fruits: apples, avocados, blueberries, cantaloupe, grapefruit, kiwifruit, lemons, oranges, papaya, peaches, pears, raspberries, strawberries, tangerines, tomatoes, watermelons
    • Vegetables: artichokes, asparagus, broccoli, cabbage, carrots, cauliflower, celery, sweet corn, cucumbers, eggplant, garlic, iceberg lettuce, romaine lettuce, dry onions, green onions, peppers, potatoes, rhubarb, spinach, squash, sweet potatoes, taro
    • Nuts: almonds, pecans, walnuts
    • Other: beans, mushrooms

USDA will consider additional crops to be eligible for CFAP by collecting information on potentially eligible crops.

Payment Limitations

CFAP payments are subject to a per person and legal entity payment  limitation of $250,000. This limitation applies to the total amount of  CFAP payments made with respect to all eligible commodities.

Unlike other FSA programs, special payment limitation rules will be  applied to participants that are corporations, limited liability  companies, and limited partnerships (corporate entities). These  corporate entities may receive up to $750,000 based upon the number of  shareholders (not to exceed three shareholders) who contribute at least  400 hours of active person management or personal active labor.  

For a corporate entity:

  • With one such shareholder the payment limit for the entity is $250,000;
  • With two such shareholders, the payment limit for the entity is  $500,000 if at least two members contribute substantial labor or  management with respect to the operation of the corporate entity; and
  • With three such shareholders, the limit is $750,000 if at least  three members contribute substantial labor or management with respect to  the operation of the corporate entity.

Payment Structure

To ensure the availability of funding throughout the application  period, producers will receive 80 percent of their maximum total payment  upon approval of the application. The remaining portion of the payment,  not to exceed the payment limit, will be paid at a later date as funds  remain available. 

how to prepare

USDA will begin taking applications for CFAP on May 26. While the  application process has not started, you can start gathering and  understanding your farm’s recent sales and inventory.

Your local FSA staff will work with you to apply for the program, and through forms that will ask for the following information:

  • Name and address 
  • Personal information, including your Tax Identification Number 
  • Farm operating structure 
  • Adjusted Gross Income compliance certification to ensure eligibility 
  • Direct deposit to enable payment processing

How to Apply Once Signup Begins

 USDA Service Centers are open for business by phone appointment only.  Once the application period opens, please call your FSA county office  to schedule an appointment.

FSA staff at local USDA Service Centers will work with producers to  file applications. Applications will be submitted electronically either  by scanning, emailing, or faxing. Please call your office prior to  sending applications electronically.

In addition to the application form, our staff will work with you to  complete portions of the CCC-902 – Farm Operating Plan – if necessary.  Additionally, the following forms will be needed for CFAP; if you are an  existing customer, this information is likely on file at your local  Service Center.

  • CCC-901 (Also Available in Spanish) – Identifies members of a farm or ranch that is a legal entity. Member  Information will be completed by legal entities and joint operations to  collect the following:  
    • member names, addresses, and Tax Identification Numbers
    • citizenship status
  • CCC-941 (Also Available in Spanish) – Reports your average adjusted gross income for programs where income restrictions apply.
  • CCC-942 – If applicable, this certification reports income from farming,  ranching, and forestry, for those exceeding the adjusted gross income  limitation.
  • AD-1026 (Also Available in Spanish) – Ensures compliance with highly erodible land conservation and wetland conservation.
  • AD-2047 – Provides basic customer contact information.
  • SF-3881 – Collects your banking information to allow USDA to make payments to you via direct deposit.

FSA has streamlined the signup process to not require an acreage  report at the time of application and a USDA farm number may not be  immediately needed.

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116 N. Main, PO Box 235, Newkirk, OK 74647, US

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