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Happy Thanksgiving!

CBO will be closed Thursday November 24, 2022 for Thanksgiving. Normal business hours will resume on Friday November 25, 2022. Have a safe and wonderful Thanksgiving.

SBA Paycheck Protection Program

The SBA is accepting applications for its Paycheck Protection Program, and we are pleased to assist both customers and noncustomers. Please provide the following documents to ensure prompt processing of your request:

  • Application
  • Calculation Sheet
  • 2017-2019 business income tax returns (all schedules, federal and state)
  • 2017-2019 personal income tax returns (all schedules, federal and state, for everyone who has an ownership interest in the business)
  • Personal Financial Statement Form (for everyone that has an ownership interest in the business)
  • 2020 Year-to-Date Balance Sheet and Income Statement for the business (this can be from an internal accounting software program, such as QuickBooks)

Applications and relevant data should be returned to Tim Kluender (, Steve Grams ( or Jeff Goergen ( With our lobby remaining closed, these documents can also be delivered personally via our drive-up or night depository.

As Owatonna’s only locally owned community bank, we are pleased to assist our local businesses and nonprofits secure the funding they so desperately need.

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