Business

COVID-19: Business Loan Relief

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CSB Loan Relief Programs
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Paycheck Protection Program- Application
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Paycheck Protection Program- Forgiveness
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SBA Loan Relief Programs
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SBA COVID-19 Resources
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We have developed several programs to assist customers during this time.

Business Loan Payment Deferral Program*

Defer loan payments for up to 120 days
Interest only payment options

Business Credit Card Payment Assistance*

Interest only payment options

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*Restrictions may apply

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Paycheck Protection Program

CSB is no longer accepting applications. If you have questions about an existing PPP loan, please contact your lender.

Paycheck Protection Program

The Loan Forgiveness Process

The Economic Aid Act was signed into law on December 27, 2020 and made changes to the Paycheck Protection Program.

Overview of Key Changes

Effective with the Economic Aid Act

Flexible Covered Period

Extends the Paycheck Protection Program (PPP) covered period to be between eight (8) and 24 weeks after loan disbursement.

Expanded Covered Eligible Expenses

Eligible covered expenses for a PPP loan now include: payroll costs,
rent, mortgage interest, utilities, operations expenditures, property
damage costs, supplier costs, and worker protection expenditures. However, use of the funds is still restricted to 60% of loan funds going to eligible payroll costs and 40% of the loan funds going to eligible non-payroll costs.

EIDL Advance Restrictions

The SBA will no longer reduce the amount of loan forgiveness approved by the amount of a borrower's EIDL (Economic Injury Disaster Loan) advance starting December 30, 2020. If your forgiveness amount has already been reduced by the amount of an EIDL advance, the SBA will be reconciling with PPP borrowers in the near future. However, this date has not yet been determined by the SBA.

The SBA has been issuing new guidance and clarifications to financial institutions on a frequent basis, so this information is subject to change. For more information concerning the Paycheck Protection Program and loan forgiveness, please refer to the

US Department of Treasury.

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Loan Forgiveness Resources

We are now accepting PPP Loan Forgiveness Applications. If your PPP loan is with CSB, you will be contacted by us in order to begin the forgiveness application process.

If you have not yet been contacted by us and you would like to talk to a lender about the forgiveness application process, please contact us.

Your lender will be available to assist you with the process, and we recommend that you use the loan forgiveness application as a guide to start preparing the documentation that will be required.

PPP Loan Forgiveness Application

EZ PPP Loan Forgiveness Application

For loan amounts $150,000 or less:

3508S PPP Loan Forgiveness Application

CSB is not working with any third-party agents

on forgiveness applications.

Please be watchful of communications from third-parties using CSB's name as the Lender and offering unsolicited assistance. The U.S. Department of Treasury has publicly released PPP data; therefore, third-parties may use CSB's name in communications and try to offer assistance with your forgiveness application or threaten collection action. These third-parties do not represent CSB; they may seek compensation from you for their services or be attempting to commit fraud. If you have any questions or need assistance, please contact your Lender at CSB.

Tax Preparation

Please contact your tax advisor regarding the impact of your PPP loan to your 2020 federal tax return. For additional information, please refer to the Internal Revenue Service.

COVID-19 Economic Injury

Disaster Loans

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans are provided directly through the SBA and you will work with them to apply. For more information, please review the following SBA resources:

Disaster Loan Assistance

U.S. Small Business Administration (SBA)

Small Business Guidance & Loan Resources

Size Tool: Do you qualify as a small business?

Small Business Development Center

Kent State University at Tuscarawas

Kent State University at Stark

Ohio Small Business Development Center Locations

We realize this may be a challenging time for many of our local businesses. The situation surrounding the Coronavirus (COVID-19) and its impact is changing rapidly, and there is a constant stream of information to process.

We are committed to helping our customers by providing relevant information and assisting in exploring options. The U.S. Small Business Administration (SBA) is launching loan programs to assist businesses and our local Small Business Development Centers can help your business navigate the process.

During this time, we are here to help you and your business. We encourage any customer who is in need of assistance to please contact us.

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