COVID-19 Update: Business

CommunityAmerica is committed to creating lasting relationships with the local business community and the individuals who work so hard to make them successful. We know there are many questions concerning COVID-19 and its impacts on your business. We are a Small Business Administration (SBA) lender, and we are here to help you. Whether you are looking for SBA loans, payment deferment options, loan extensions or advice, our team is ready to assist you.

May 4, 2021 Update: We are no longer accepting loan applications for the Paycheck Protection Program. The SBA has now closed their application portal due to funds being exhausted. If you have any questions, please call our dedicated PPP team at 913.905.7012.


We will provide further updates on this page as more information becomes available. Please watch your email, as we expect to communicate more details as we have them in the coming weeks. If you are not currently a business member with us, we encourage you to visit your nearest branch location to open an account for the quickest access to PPP communications and funding. During this time, we also encourage you to contact your accountant and/or legal counsel to discuss how the new legislation may impact your business and help you best prepare for next steps.

Paycheck Protection Program

If you have questions about your PPP loan with CommunityAmerica please call our business banking team at 913.905.7012.

PPP First Draw Loans

The COVID relief bill allocated approximately $284 billion in additional funding for PPP loans. Businesses that did not receive a loan from the earlier rounds of funding, or a First Draw PPP Loan, are eligible to apply for this most recent round of funding.

PPP Second Draw Loans

Businesses that have already received funding through a First Draw PPP loan are also eligible to apply for additional financial assistance through a Second Draw PPP loan from the new round of funding. Second Draw PPP loans will be capped at $2 million, and businesses are required to meet the following additional criteria:
  • Must have utilized or will utilize all of the First Draw
  • PPP loan Must have fewer than 300 employees
  • Must have experienced at least a 25% reduction in revenue in a quarter for 2020, compared to the same quarter in 2019

PPP Loan Forgiveness

The SBA is now accepting forgiveness applications, with a simplified forgiveness process for loans of $150,000 or less. We are re-opening our loan forgiveness application portal at this time, and a link to access the application will be sent through direct email. We will send all emails with links to apply for forgiveness to businesses who had a First Draw PPP loan in 2020, in order based on the loan disbursement date. All 2020 borrowers can expect to receive a link to apply by the end of May.

PPP Funds & Qualified Expenses

The Paycheck Protection Program was created to help you keep your employees at their current base pay and cover other essential business costs. To be 100% forgiven, 60% of funds must cover payroll costs, while up to 40% can be used for other qualifying costs (like rent, leases and utilities) over a 24-week period starting the date the funds are received. Learn more about qualifying for loan forgiveness here.


Any remaining loan amount, after forgiveness, will need to be repaid. You will not be required to start your PPP loan repayment until your forgiveness application has been completed and processed, and you will have up to 10 months after the end of your covered period to apply for forgiveness. After that time, you will be required to pay the loan back over the remaining 5-year period with a fixed interest rate of 1%.


The SBA defines qualifying payroll costs as:

  • Full-time and part-time employee (who lives in the U.S.) compensation in the form of salary, wages, commissions or anything similar
  • Cash tips or equivalent, based on employer records of past tips or reasonable, good-faith employer estimates if there are missing or no historical records
  • Vacation, parental, family, medical or sick leave payments
  • Healthcare coverage, including insurance premiums, and retirement
  • State and local tax payments based on employee compensation
  • Wage, commission, income or net earnings from self-earners or similar compensation


No more than 40% of funds can be used to cover:

  • Costs related to group healthcare benefits during paid sick, medical or family leave, as well as insurance premiums
  • Mortgage interest payments (not including mortgage prepayments or principal payments) – as long as the mortgage was signed before February 15, 2020
  • Rent – as long as the lease agreement was in effect before February 15, 2020
  • Utilities – includes expenses such as electricity, water, gas, sewage, telephone services, internet and transportation costs, as long as service began before February 15, 2020


As a result of the latest legislation, new qualifying expenses include:

  • Operations expenditures – such as payments to business software or cloud computing systems, product or delivery, the processing, payment, or tracking of payroll expenses, and other expenses related to human resources and accounting needs
  • Property damage costs – includes costs related to property damage from public disturbances that occurred in 2020 and are not covered by insurance
  • Supplier costs – expenditures to suppliers that are essential to the recipient’s current operations
  • Worker protection – worker protection and facility modification expenditures, including personal protective equipment in order to comply with COVID-19 federal health and safety guidelines


The Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was signed into law on Friday, March 27, 2020. The act includes several programs to assist eligible businesses with the support they need to sustain payroll and cover other expenses during this unprecedented time. The SBA website provides the most current and accurate information on each new government program. Program details are changing frequently, and we are working continuously to provide the most timely and helpful information available.

Economic Injury Disaster Loans and Loan Advance

Offers low interest loans to small businesses located in a declared disaster zone to help overcome the temporary loss of revenue they may be experiencing. Get the details.

SBA Debt Relief

Under the CARES Act, existing SBA borrowers whose loans are in good standing are relieved of any obligation to pay principal, interest and associated fees due after March 27, 2020 for a period of six months. If you have an SBA loan with CommunityAmerica, your banker will be contacting you with additional information. Additional details are available through this link.

SBA Express Bridge Loans

For current CommunityAmerica small business members who have an urgent need for cash while they wait for a decision and payment of an Economic Injury Disaster loan. Get the details.

Local Resources

Women’s Business Center

Partially funded by the Small Business Administration, this organization provides support to women business owners in the Kansas City metro. Resources are available on their website, including accessing needed capital. They also provide free counseling by phone at 913.492.5922 and email at [email protected].

Contact Us

As your truly and forever local partner, we are here for you during this uncertain time. You can reach us at 913.905.7012.