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To apply online click the following link– Online Consumer Loan Application and Financial Privacy
To apply online click the following link– Residential Real Estate Application with Disclosures
*Commonwealth Community Bank provides loan application documents as a convenience to our customers and potential customers. Please be aware that in order to conform with regulatory requirements, you may be asked to provide identification and additional information at account opening. Commonwealth Community Bank is here to help, contact representatives if you have any questions or concerns at (270) 298-3261.
***For Commonwealth Community Bank customers who participated in the Paycheck Protection Program through SBA, here are updated forgiveness applications and instructions. We will continue to keep everyone updated as things unfold. For additional information you may visit the SBA Website at https://www.sba.gov/ .
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. The loan forgiveness form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:
• Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
• Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the 24-week period after receiving their PPP loan
• Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness
• Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30
• Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined