We are here to help you

We know these are difficult times for our customers. State Bank of Chilton is here to support you now
and through the uncertainties ahead.  Please continue to visit this page; we will continue to provide updates as it pertains to our services. Please know our team is working diligently to serve our customers and are here to help. Please contact us and we will assist with any questions or concerns you may have.

Our lobbies are open

We request that customers entering the lobby respect our guidelines, which include:

  • Wear a face mask. Masks are required for bank customers per State of Wisconsin mandate. If you need a mask, please check with any bank employee and we'd be happy to provide you with one.
  • Maintain social distancing protocol of a 6-foot distance from others.
  • Use provided hand sanitizer prior to performing a transaction or meeting with a staff member.
  • If you are unwell or have been in contact with a confirmed case of COVID-19, we ask that you utilize available services such as online and mobile banking or contact us via phone or email.

You can help reduce the spread of COVID-19 by adhering to the following recommendations:

  • Use non-personal contact banking as much as feasible including eBranch online banking, mobile check deposit, debit cards, ATMs and night depositories.
  • Use our drive-ups where person-to-person contact is limited.
  • Delay person-to-person office visits that are not urgent.  We have established procedures to allow most transactions to be handled via phone.

As always, please be cautious of potential fraud attempts. We will not ask you for account numbers or confidential information over email. If you are suspicious of an email, text message, or phone call, please contact us to verify that it is legitimate. Remember to never give out personal information – such as bank account numbers, credit or debit card numbers, personal identification numbers, or your social security number in an email, letter, or conversation that you did not initiate.

Small Business Customers

Paycheck Protection Program (PPP) - Round 2

The SBA has reopened PPP for new borrowers and certain existing PPP borrowers. We are accepting customer applications.

FIRST DRAW LOANS

A First Draw PPP loan is for eligible borrowers who did not receive a PPP loan before the program closed in August 2020.

SECOND DRAW LOANS

The eligibility requirements for a Second Draw PPP loan are as follows:
  • The borrower must spend the full amount of the First Draw PPP loan before receiving the Second Draw loan.
  • The borrower must demonstrate a 25% or more reduction in gross receipts in any quarter of 2020, or for the full calendar year, compared to the same 2019 quarter or year.
  • The borrower must employ no more than 300 employees per physical location.
  • The amount of each Second Draw PPP loan is subject to an overall cap of $2 million.
Second Draw PPP loans can be up to 2.5 times the average monthly payroll costs during the 1-year period before the loan or during the 2019 calendar year. Borrowers in the hospitality or food services industry (NAICS code beginning with “72”) are eligible for a loan of up to 3.5 times average monthly payroll costs. Like First Draw loans, Second Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week Covered Period following loan disbursement at least 60% of the proceeds are spent on payroll costs.
Existing State Bank of Chilton PPP Borrowers:
  • No additional information is required if you are using the same payroll information from the First Draw to calculate the Second Draw loan amount.
  • If you are using different payroll information to calculate loan amount, then you need to provide your 2020 payroll journal, quarterly 941, W-2s, etc. to support the loan amount calculation.
  • If the loan amount is greater than $150,000, documentation must be supplied to establish that your business experienced a revenue reduction of 25% or greater in 2020 relative to 2019.
  • If the loan is less than or equal to $150,000, documentation must be supplied to establish the revenue reduction, if available, otherwise documentation is deferred to time of forgiveness application.
  • Detailed breakdown of how you arrived at your loan request amount.

If this is your Second Draw PPP loan, but your first PPP loan with State Bank of Chilton, then we need the following:

  • 2019 or 2020 payroll, by employee, as reported to the IRS with supporting documentation (for example: payroll journal from payroll provider, quarterly form 941, W-2s, etc.)
  • If the loan amount is greater than $150,000, documentation must be supplied to establish that your business experienced a revenue reduction of 25% or greater in 2020 relative to 2019.
  • If the loan is less than or equal to $150,000, documentation must be supplied to establish the revenue reduction, if available, otherwise documentation is deferred to time of forgiveness application.
  • Detailed breakdown of how you arrived at your loan request amount.

ADDITIONAL RESOURCES

READ THE SBA AND TREASURY ANNOUNCEMENT
Guidance on Accessing Capital for Minority, Underserved, Veteran, and Women-owned Business Concerns 
Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act 
Interim Final Rule on Second Draw PPP Loans