Latest "COVID-19" Posts

 April 30, 2020 – It is the seventh week since we initially closed our bank lobby. This week has been busy with the second wave of Paycheck Protection Program loans. We have been able to approve loans for 84 additional small businesses, making a total of almost 290 area small businesses receiving this loan since […]

April 23, 2020 – Today, the government approved a $484 billion relief package, with $310 billion of that being for the Paycheck Protection Program (PPP). The PPP is aimed at helping small businesses who have been severely impacted by the coronavirus to maintain their workforce. Qualified businesses can apply for this forgivable loan of up […]

April 23, 2020 – As part of the $2.2 trillion stimulus package the CARES Act, the federal government is sending Economic Impact Payments (stimulus checks) to millions of Americans. These payments have brought up a variety of questions. Many of these questions will be answered below. If you have other questions, please reach out. We […]

 April 16, 2020 – The bank has been busy and taking many precautions during this unprecedented time. Some updates are: 1/3 of our staff is now working from home and those remaining have spread throughout the bank. With historic low-interest rates, our mortgage department has been incredibly busy. Last month alone they closed 55 […]

April 15, 2020 – Americans are preparing to receive their economic impact payments from the government. With this influx of money, fraudsters are creating a variety of new scams in attempts to take these payments. The American Bankers Association has highlighted the five most common scams to watch for as listed below: Offering Early Access […]

April 9, 2020 – Decorah Bank and Trust understands that there may be instances in which customers find themselves facing financial difficulties due to this unique time. We have different homeowner and consumer payment relief programs now in place to help customers in need of assistance. We are here to help, and encourage those who […]

April 8, 2020 – As of today, the Paycheck Protection Program (PPP) has new eligibility extensions. The US Treasury and Small Business Administration have expanded guidance on eligibility rules for the PPP program. All banks are trying to keep up with this fast-moving program in which rules and interpretations are changing by the hour. From […]

April 6, 2020 – You’ve likely heard of multiple small business tools available through the Small Business Administration (SBA), the most popular being the Paycheck Protection Program under the CARE Act. Congress approved $349 billion to help small businesses retain workforce through this difficult time. Qualified small businesses can apply for a forgivable loan up […]

UPDATED as of April 23, 2020 – Today, the government is voting to approve additional funding for the Paycheck Protection Program, aimed at helping small businesses who have been severely impacted by the coronavirus to maintain their workforce. Qualified businesses can apply for this forgivable loan of up to 2.5 times monthly payroll. If you […]

March 31, 2020 – For many years, Decorah and Cresco Bank and Trust has helped our customers and our communities through both good and challenging times. Today is no different, and we stand ready to help you and your small business or nonprofit. The CARES Act is the new federal relief package that was recently […]