COVID-19 Relief

We are here to help.

UPDATE: Congress approved additional funds for the PPP. 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act helps small businesses keep workers employed amid the pandemic and economic downturn.  Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.

The U.S. Chamber of Commerce has issued their guide to help small businesses and self-employed individuals prepare to file for a loan.  The guide answers questions you may be asking like "Am I eligible?" and "How much can I borrow?".

Apply now for the Paycheck Protection Program and be sure to include the supporting documents listed below:
 

Sole Proprietorship and Independent Contractors:

  • 2018 Schedule and 2019 Schedule C - even if you have not filed your 2019 taxes yet
  • 2019 1099s
  • Profit & Loss for 2019
  • Louisiana Secretary of State in Good Standing, if applicable
  • Current Driver's License, if applicable

LLC and Corps:

  • Payroll Summary for 2019
  • W3, with details of employees
  • Profit & Loss for 2019
  • Louisiana Secretary of State in Good Standing, if applicable
  • Current Driver's License, if applicable

You acknowledge that the relationship manager will calculate the eligible loan amount using the tax documents you submitted. You affirm that the tax documents are identical to those you submitted to the IRS. And you also understand, acknowledge and agree that the relationship manager can share the tax information with the SBA’s authorized representatives, including authorized representatives of the SBA Office of Inspector General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews.

Other helpful items: Borrower Information Fact Sheet & Paycheck Protection Program Overview

If you are an existing Barksdale Federal small business account holder* and have been impacted by the coronavirus (COVID-19), let us know.  We may be able to alleviate some of the financial strain.

Fill out the form below, and we will contact you.

*Must have a Barksdale Federal business checking account or Barksdale Federal business loan as of March 29, 2020.