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Lobby Closing

In response to the resurgence of COVID-19 cases in Steele County, Community Bank Owatonna will be closing our lobby to normal customer traffic effective Friday, November 27, 2020. Our drive-up will be open regular hours. The lobby will also be open by appointment for access to safe deposit boxes and banking needs that cannot be accommodated via the drive-up or the CBO Digital Banking Suite. As required by MN Emergency Order 20-81, all individuals entering the lobby will be required to wear a mask.

SBA PPP Loan Forgiveness

The SBA has opened the window for local businesses and nonprofits to apply for Paycheck Protection Program (PPP) loan forgiveness.

 

There are two applications available.  Most PPP recipients can take advantage of the shorter, EZ application form that is found here:  PPP Loan Forgiveness Application Form 3508EZ.  In the event your business cannot use this short form application, the other application is available here:  PPP Loan Forgiveness Application.

 

Congress continues to discuss a new stimulus package, and one version of that bill includes automatic loan forgiveness by borrower certification for all PPP loans under $150,000.  We will monitor progress on this legislation and provide updates if this option becomes available. 

 

If your business or nonprofit has a PPP loan with us and you have additional questions, please let us know.  As always, we are proud to be Owatonna’s only locally owned community bank, and we very much appreciate your business and continued support.    

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