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Paycheck Protection Program from a Bank’s Perspective

Paycheck Protection Program from a Bank’s Perspective

The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, was passed to offset the economic fallout of the COVID-19 pandemic in the United States. It was signed into law by President Donald Trump on March 27.

The Paycheck Protection Program (PPP) is one component of the CARES Act designed to get money directly into the hands of small businesses and non-profits so they can continue to employ their people through these challenging times. The philosophy of the program is that our …

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PPP Loan Forgiveness

PPP Loan Forgiveness

Heritage Bank’s electronic application is coming soon!

SBA and Treasury released Paycheck Protection Program loan forgiveness application

WASHINGTON—Today, the U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.

The SBA form & instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). SBA will also soon issue regulations and guidance to further assist borrowers as they …

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Is my business eligible for Paycheck Protection?

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The nationwide demand for Paycheck Protection Program loans will exceed the authorized amount approved by Congress.  Unfortunately, with the significant volume, not all applications will be approved and funded by the SBA.

Complete and verified applications will be submitted to the SBA as they are received. By accepting your application, we are not making any representation or commitment that it will be approved and funded by the SBA.

Heritage Bank is offering forgivable SBA loans for eligible small businesses

Full service banking available through Drive ups, Hybrid ATMs and online

Full service banking available through Drive ups, Hybrid ATMs and online

*Updated 4/22/2020 – We continue to be open to serve you through our drive ups and Hybrid ATMs. In consideration of the health and safety of our employees, customers and business community, we will keep our lobbies closed at this time.

Our Drive Up lanes, Hybrid ATMs, and Night Drop boxes are fully staffed to serve you. If you need additional assistance or a meeting with your banker, please call 1-800-344-7048.

As the coronavirus (COVID-19) continues to spread, Heritage Bank is taking precautionary measures to keep our customers …

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What are Certified and Preferred SBA Lenders?

What are Certified and Preferred SBA Lenders?

Adapted from the U.S. Small Business Administration Web site.

The SBA works with many banks to provide small businesses with financing. This opens up funding opportunities for companies that may not qualify for bigger loans from venture capitalists or angel investors. Read our guide to Bank Loans for Small Businesses, which lists some of the key elements that a bank looks for in a good loan applicant.

The most active and expert SBA lenders qualify for the SBA’s Certified and Preferred Lenders Program. Participants are delegated partial or …

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Avoid Coronavirus Scams

Avoid Coronavirus Scams

Tips to Avoid Coronavirus Scams and Protect Your Money

Unfortunately, fraudsters are finding ways to take advantage of fears related to the coronavirus. Learn about the common scams and what you can do to protect yourself.

Common Scams 10 Tips to Avoid Becoming a Victim

Watch out for phishing scams.  Phishing scams use fraudulent emails, texts, phone calls and websites to trick users into disclosing private account or login information. Do not click on links or open any attachments or pop-up screens from sources you are not familiar with, …

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Rise up with Heritage

Rise up with Heritage

Heritage Bank has endured seven recessions, multiple farm crises, floods, tornados and even disco during the 70’s. We made it through these tough times. We rallied and pulled ourselves up by our bootstraps. We worked diligently with our fellow employee-owners, customers and communities to makes things better. As a team we achieved.

With the recent outbreak of COVID-19, our world is experiencing another tough time. We see our family, friends and neighbors around the country falling on hard times from the virus itself and from the …

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Bankrate’s Top Regional Bank

Bankrate’s Top Regional Bank

We are honored to be named as the 2020 Top Regional Bank for our eCentive Account, Heritage Direct savings, and Carefree Checking. Find out more about these great accounts here!

Heritage Bank’s Carefree Checking account scored well because it doesn’t require a minimum balance. You also only need $100 to open an account.

Heritage Bank, which has locations in Iowa, Minnesota and South Dakota, had the savings account with the highest annual percentage yield (APY) among the top regional banks. This account, the Heritage Direct Savings account, …

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KEVIN OWENS RECEIVES IOWA AWARD

KEVIN OWENS RECEIVES IOWA AWARD

As part of the Economic Development Rural Initiative Program, Dakota Business Finance established an annual program to present community lending awards.

On Wednesday, Oct 9, the communities of Milford and Odebolt were presented with awards and special recognition was given to the lenders who contributed to receiving the award.

We are proud to congratulate our own commercial banking expert, Kevin Owens, for his assistance with the Odebolt loan!

Communities with a population of 50,000 or less are eligible for this award. The ultimate goal is to help grow …

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Marnach earns Iowa Preferred Lender designation

Marnach earns Iowa Preferred Lender designation

Teresa Marnach, Mortgage Loan Originator, NMLS# 1563290 Receives Preferred Lender Designation

 (DES MOINES) – The Iowa Finance Authority (IFA) today announced that a total of 20 lenders have earned IFA’s 2020 Preferred Lender designation. IFA Preferred Lenders serve as ambassadors for Iowa home buyers seeking assistance with the homeownership process and are expertly trained in IFA mortgage and down payment assistance programs.

IFA offers affordable mortgage and down payment assistance programs for eligible homebuyers through a seamless process with a network of hundreds of valued Participating …

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