COVID-19 Business Resources

Update as of Sunday, April 5th at 5pm

The SBA portal is now functional with limited access.  We have started to upload/submit applications to the SBA portal throughout the day.  We are still accepting applications.  Completed applications should be emailed to Justin.Jennings@UnitedBank.com.  When submitting your application, please add in the subject line PPP App and include your business name to ensure we are aware this is an application submission. 

Update as of Saturday, April 4th at Noon 

We are continuing to accept applications and processing them in preparation to submit to SBA.  However, the SBA systems are not fully functional and we have not been able to submit applications at this time. The SBA is working on solving technical issues to allow us to submit your application. 

Our lenders are working to screen applications and if further information is needed, we will reach out to you.  We have had several follow up calls this morning with trade associations, elected officials like Congressman Byrne, as well as officials from Treasury and SBA.  Please know we are doing everything possible to support you and your businesses during this time. 

An update will be posted later to share our progress. 

United Bank is ACCEPTING Paycheck Protection Program applications at this time.  Completed applications should be emailed to Justin.Jennings@UnitedBank.comWhen submitting your application, please add to the subject line PPP App and your business name to ensure we are aware this is an application submission.    

Please be advised, however, that due to the SBA’s late release of PPP program guidelines on Thursday night, April 2, United is NOT PROCESSING applications at this time. Our team is working intensely to ensure we have the best possible framework in place to serve our customers and community in processing these applications. We do not currently know when we will begin processing applications, but please check this website for updates.  We will post an update soon.  We hope to begin processing applications as quickly as possible. 

Also, we understand that you may choose to withdraw your application with us and have another bank submit it. If you do that, you must let us know IMMEDIATELY. Submitting duplicate applications could make you ineligible for loan forgiveness. 

How United Bank supports business

Our world and nation are currently experiencing unprecedented disruptions, affecting everyone in some way. No one was expecting this, but here we are, and you are trying to manage your business in the midst of uncertainty and chaos. Know that at United Bank, we are working diligently to provide ideas and resources to assist you in navigating these uncharted waters.

Recognizing the threat that the Coronavirus (COVID-19) pandemic is to your business, we have created a special webpage for our business clients, www.unitedbank.com/CovidBusinessResources. On this page you will find

  • Links to small business assistance organizations
  • Specific information about the SBA Economic Injury Disaster Loan Program & Paycheck Protection Program 
  • Helpful tips for managing your business during times of crisis
  • Information about other programs that may be available to assist during the current situation

Information about new resources for businesses is becoming available daily. We will continually update www.unitedbank.com/CovidBusinessResources with information as it becomes available, so please check back with us frequently.

United Bank is committed to you and your business. Please do not hesitate to contact us, we will help in any way possible..

Bob Jones
President & CEO

 

SBA Assistance Partners

The following are local offices and partner organizations in our area who can help you with questions about applying for SBA loans, preparation of financial statements, and loan application assistance.

Small Business Development Centers of Alabama
Primary SBDC office in Alabama
205-348-1582
 
SBDC at University of South Alabama
877-825-7232
 
Florida SBDC Network HQ
850-898-3479
 
SBDC at University of West Florida
850-474-2528
 
SCORE Business Mentors
 
South Alabama SCORE
Fairhope Chamber of Commerce
251-928-6387
 
Alabama Capitol SCORE
334-240-6868
 
Panama City SCORE
850-257-3453
 
Veterans Business Outreach Center
 
For Veterans living in Alabama:
Veterans Business Outreach Center at Mississippi State
662-325-4990
 
For Veterans living in Florida:
Veterans Business Outreach Center of Florida
Gulf Coast College-Panama City
800-542-7232
 
Small Business Administration
 
District Office - Mobile, AL
251-544-7401
 
District Office - Birmingham, AL
205-290-7101
 
District Office - Jacksonville, FL
904-443-1980
 
Regional Office - Atlanta, GA
404-331-2354
 
Disaster Field Operations Center East - Atlanta, GA
404-331-0333
 
Office of Women's Business Ownership
 
U.S. Chamber of Commerce 
 

 

SBA Economic Injury Disaster Loans

SBA Economic Injury Disaster Loans

Counties in Alabama and Florida have been officially designated as SBA Disaster areas as a result of the Coronavirus (COVID-19) pandemic. This designation allows businesses to apply for SBA's Economic Injury Disaster Loans (EIDL program). These loans are available for working capital purposes at loan amounts up to $2 million. Additional information on the EIDL program is available, however, some important tips to consider. 

YOU MAY REQUEST UP TO A $10,000 ADVANCE ON YOUR LOAN REQUEST FOR EMERGENCY FUNDS.  YOU ARE NOT REQUIRED TO PAY THESE FUNDS BACK EVEN IF YOU ARE NOT APPROVED FOR A LOAN UNDER THE EIDL PROGRAM.  THESE FUNDS ARE AWARDED THROUGH GRANTS.  THIS ADVANCE WILL BE AWARDED WITHIN THREE DAYS OF APPLICATION.   

  • Apply as soon as you possibly can. The sooner you apply, the sooner you receive an answer.
  • Make sure your application is complete. Incomplete applications slow down the process.
  • Use available resources to assist you like this website and your United Bank bankers.

SBA Economic Injury Disaster Loan Basics

  • SBA Economic Injury Disaster loans are underwritten and approved through SBA   
  • Loan AmountUp to $2 million, subject to credit approval
  • Interest Rate: 3.75% fixed for businesses; 2.75% fixed for nonprofits
  • Term: Up to 30 years based on ability to repay
  • Uses: Working capital to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had Covid-19 crisis not occured
  • Collateral: Loans over $25,000 require collateral. SBA takes real estate collateral when available. SBA will not decline a loan for lack of collateral, but requires borrowers to pledge what is available

Approval Criteria

  • Must have credit history acceptable to SBA
  • Must show the ability to repay the SBA loan
  • Applicant must be in an SBA disaster declared county. (All counties in Alabama and Florida are eligible)

How to Apply for Assistance

  • Visit Disaster Loan Assistance website.
  • There are three ways to submit your completed application:  
    • Apply online 
    • Upload your completed application to the SBA website 
    • Mail your completed application to U.S. Small Business Administration, Processsing and Disbursement Center 14925 Kingsport Rd.  Ft. Worth, TX 76155-2243  

SBA Economic Injury Disaster Loan Assistance Forms and Application

Example of Streamlined EIDL loan with option to request Advance

 
 

Paycheck Protection Program

Update as of Saturday, April 4th at Noon 

We are continuing to accept applications and processing them in preparation to submit to SBA.  However, the SBA systems are not fully functional and we have not been able to submit applications at this time. The SBA is working on solving technical issues to allow us to submit your application. 

Our lenders are working to screen applications and if further information is needed, we will reach out to you.  We have had several follow up calls this morning with trade associations, elected officials like Congressman Byrne, as well as officials from Treasury and SBA.  Please know we are doing everything possible to support you and your businesses during this time. 

An update will be posted later to share our progress. 

 

United Bank is ACCEPTING Paycheck Protection Program applications at this time.  Completed applications should be emailed to Justin.Jennings@UnitedBank.com.  When submitting your application, please add in the subject line PPP App and your business name to ensure we are aware this is an application submission. 

Please be advised, however, that due to the SBA’s late release of PPP program guidelines on Thursday night, April 2, United is NOT PROCESSING applications at this time. Our team is working intensely to ensure we have the best possible framework in place to serve our customers and community in processing these applications. We do not currently know when we will begin processing applications, but please check this website for updates.  We will post an update soon.  We hope to begin processing applications as quickly as possible. 

Also, we understand that you may choose to withdraw your application with us and have another bank submit it. If you do that, you must let us know IMMEDIATELY. Submitting duplicate applications could make you ineligible for loan forgiveness. 

 

Payroll Protection Program Loan Information Sheet

  • Loan amount: 2.5 times average monthly qualifying costs, up to $10 million (detailed formula included)
  • Interest Rate:  1%
  • Fees: None
  • Collateral: None
  • Borrower Guarantees: None
  • Prepayment Fees: None
  • Purpose: To pay qualifying costs for the 8-week period following date of loan closing
  • Loan Forgiveness: If business has the same average number of employees or more, with each employee being paid the same amount or more at end of the 8-week period following date of closing, up to 100% of the loan amount will be forgiven.  (Options available on starting number of employees.)  Forgiven loan amounts are not taxable.
  • Unforgiven Portion: Up to 2-year term.  Payments required to be deferred for 6 months, additional 6 months allowed.
  • SBA Guarantee: 100% until 12/31/2020; reverts back to 85% after 12/31/2020
  • “Credit Elsewhere”: Waived
 
Loan Amount Calculation
Standard
Average Monthly Payroll Costs X 2.5 = Maximum Loan Amount (Previous 12 months)
OR
Seasonal 
Average Monthly Payroll Costs X 2.5 = Maximum Loan Amount (Period from 2/15/19 -6/30-19 or 3/1/19-6/30/19, borrower option)
OR
New Business (since 6/30/19)
Average Monthly Payroll Costs X 2.5 = Maximum Loan Amount (Period from 1/1/2020-2/29/2020)
 
Uses for Loan and Qualifying Expenses for Forgiveness
  • Payroll Costs
  • Costs for employer paid insurance and health care benefits
  • Employee salaries and commissions
  • Interest payments on mortgages originated prior to 2/15/2020
  • Rent on leases signed prior to 2/15/2020
  • Utility payments for utilities started prior to 2/15/2020
  • Interest on any other debt originated prior to 2/15/2020

 

Payroll Protection Program Borrower Information Fact Sheet

Payroll Protection Program Overview from Treasury Department

Payroll Protection Program Loan Application Packet

 

Your Dedicated United Bank Team

The following team leaders are available to assist you with the SBA Disaster Loan Program. Please feel free to email or call any of these experienced bankers with your questions. They are also available for in person appointments.

Jerry Burden                       
850-858-1200 
Jerry.Burden@unitedbank.com
5907 Berryhill Medical Park Drive
Milton, Florida
 
David Stewart                      
251-943-2026
David.Stewart@unitedbank.com
516 S. McKenzie Street
Foley, Alabama  
 
Chris Walker                          
251-577-1073
Chris.Walker@unitedbank.com
109A W. Nashville Avenue
Atmore, Alabama 
 
Chad Yarbrough                   
251-964-7675
Chad.Yarbrough@unitedbank.com
2106 S. Hickory Street
Loxley, Alabama 
 
Joel Ross 
251-581-9004
Joel.Ross@unitedbank.com
2480 Schillinger Road North
Semmes, Alabama 

Other Programs and Resources

Return to top

Email Link Disclaimer

Notice: Because there is a risk that information transmitted via Internet email could fall into the wrong hands, United Bank suggests that confidential information, such as account numbers or social security numbers, not be transmitted via email. If this information must be stated, please contact United Bank by phone or at your nearest office. Thank you. If you "Continue", the link will open a new email message in your default email program.

Close |   Continue

×

External Link Disclaimer

United Bank has no control over information at any site hyperlinked to or from this Site. United Bank makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and is providing this hyperlink to you only as a convenience. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by United Bank of any information in any hyperlinked site. In no event shall United Bank be responsible for your use of a hyperlinked site. If you "Continue", the link will attempt to open a new window. If it is unable to, the link will open in the current window.

Close |   Continue

×

Deluxe Corporation Link Disclaimer

As of July 1, 2015, United Bank is partnering with Deluxe Corporation for Personal & Business check orders. If this is the first time you have ordered checks since then, you need to contact your local branch or call 800.423.7026 to place your order. If you have ordered checks since July 1, 2015, please click continue to proceed.

If you choose to continue, you will be taken to Deluxe Corporation's website. The inclusion of this hyperlink does not imply any endorsement, investigation, verification or monitoring by United Bank of any information on this site. United Bank is not responsible for your use of the hyperlinked site.

Close |   Continue

×