COVID-19 Updates


Tuesday, October 13th

SBA and Treasury have announced the issuance of SBA Form 3508S- which is a simpler forgiveness application process for loans of $50,000 or less.

WASHINGTON—The U.S. Small Business Administration, in consultation with the Treasury Department, today (Thursday, October 8th) released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars. 

“The PPP has provided 5.2 million loans worth $525 billion to American small businesses, providing critical economic relief and supporting more than 51 million jobs,” said Secretary Steven T. Mnuchin.  “Today’s action streamlines the forgiveness process for PPP borrowers with loans of $50,000 or less and thousands of PPP lenders who worked around the clock to process loans quickly,” he continued.  “We are committed to making the PPP forgiveness process as simple as possible while also protecting against fraud and misuse of funds.  We continue to favor additional legislation to further simplify the forgiveness process.” 

“Nothing will stop the Trump Administration from supporting great American businesses and our great American workers. The Paycheck Protection Program has been an overwhelming success and served as a historic lifeline to America’s hurting small businesses and tens of millions of workers. The new form introduced today demonstrates our relentless commitment to using every tool in our toolbelt to help small businesses and the banks that have participated in this program,” said Administrator Jovita Carranza. “We are continuing to ensure that small businesses are supported as they recover.” 

SBA and Treasury have also eased the burden on PPP lenders, allowing lenders to process forgiveness applications more swiftly.   

SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020.  SBA will continue to process all PPP forgiveness applications in an expeditious manner.

Documents provided by the SBA:

Tuesday, October 13th

The State of South Dakota received $1,250,000,000 in federal funds to be used for costs incurred due to the public health emergency in response to the Coronavirus Disease 2019 (COVID-19). In consultation with the legislature, the Administration has determined that the unexpended portion of these coronavirus relief funds to be spent on several different programs aimed at supporting small businesses and healthcare providers across the State.

Any legal business, including farms and ranches are eligible- but they all will be required to disclose federal COVID grant funding received this year, including CFAP (Coronavirus Food Assistance Program and PPP.)

For more information visit,

Contact or 605-937-7243 with questions. The call enter is open Monday-Friday, 8:00am-5:00pm.

Thursday, September 10th

Governor Noem Outlines Framework for $400 Million in CARES Act Funding for South Dakota Small Businesses
PIERRE, S.D. - Today, Governor Kristi Noem laid out a framework for up to $400 million in Coronavirus Relief Funds (CRF) to assist South Dakota’s small businesses negatively impacted by the COVID-19 pandemic.

“South Dakota is in a good spot as we rebound from COVID-19, but some of our small businesses were still hurt by this pandemic,” said Governor Noem. “These folks are the lifeblood of our communities and economy. When I asked folks to adjust their way of life to help us flatten the curve, South Dakotans exercised their personal responsibility and responded. That adjustment significantly impacted the day-to-day operations, customer traffic, and supply chains of a number of small business owners across our state. It’s my hope that this proposal will help folks stay open and overcome the unprecedented times we’ve faced these last several months. I’m looking forward to discussing it with the legislature.”

Under Governor Noem’s proposal, businesses would qualify for this grant if they are located in South Dakota, have at least $50,000 in gross revenue in 2019, and have had a reduction in business of at least 25% between March and May as a result of COVID-19. The calculation for “reduction in business” can be found here.
The proposed application period for the program would open on October 12 and close on October 23. Grants would be rewarded once all applications are received. Following the initial reward period, a second allocation of funds would be considered if additional funds are still available. Under current federal law, all funds must be distributed by December 30, 2020.  Grants would be awarded up to $100,000 per qualifying business.
To learn more about this framework and the fight against the COVID-19 pandemic in South Dakota, please visit

Tuesday, September 1st

Applications Open for Two State Ag Grants- The State of Iowa began accepting applications today for two agricultural grants funded with money provided by the CARES Act.

Wednesday, August 12th

We are now accepting Paycheck Protection Program (PPP) loan forgiveness applications!

As part of the PPP Flexibility Act, the SBA and Treasury released two versions of loan forgiveness applications: a revised PPP Loan Forgiveness Application and an EZ PPP Loan Forgiveness Application. You can find both applications and their respective instruction sheets below. Please review the two applications and required documentation (found on each application’s instruction sheet) to determine which application may pertain to your business. Please contact your local Frontier Bank lender with questions or for assistance.

You may be able to use the simplified EZ version of the application if you can certify any of the following three items:

  • You are self-employed and have no employees; OR
  • You did not reduce the salaries or wages of your employees by more than 25% and did not reduce the number or hours of your employees; OR
  • You experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of your employees by more than 25%


PPP Loan Forgiveness Application

Form 3508

Instructions for Form 3508

Frontier Bank's Instruction Summary

EZ PPP Loan Forgiveness Application

Form 3508EZ

Instructions for Form 3508EZ

Frontier Bank's Instruction Summary

Please utilize this checklist we

created to assist with your loan

forgiveness preparation.



Monday, July 20th

Provided by Iowa Economic Development Authority

Governor Reynolds has allocated federal CARES Act funds to assist small businesses and nonprofits who have been economically impacted by COVID-19. The Iowa Economic Development Authority’s Small Business Utility Disruption Prevention Program will provide short-term relief to eligible small businesses and nonprofits that face significant hardship in the payment of utility bills for service provided during the months of disruption to their business.


  • Electric and natural gas utility bill assistance for actual utility debt incurred for electric or natural gas service provided between March 17, 2020 and June 30, 2020, not to exceed $7,500. 
  • Financial assistance can only be applied to the applicants’ utility bills.  The applicants’ utility service provider will receive a credit, which will be applied to the applicants’ utility debt. 
  • Applications will be accepted on an ongoing basis beginning July 17, 2020, and assistance will be provided to eligible applicants on a first come, first ready to proceed basis until all funds have been exhausted or August 21, 2020, whichever comes first.


  • Iowa-based for profit and nonprofit businesses with 50 or fewer employees
    • Must have a physical location (non-residential) in Iowa
    • Must be registered with the Iowa Secretary of State to do business in the State of Iowa
  • Must not be an ineligible business type:
    • Adult Entertainment; Construction, Internet Sales, without corresponding storefront; Medical; Private Clubs, Professional Services; Professional Sports; Religious Institutions, with the exception of those offering social services including daycare, food bank, preschool, shelter, etc.
  • Have not received funds provided by the State of Iowa's Small Business Relief Grant (SBRG) funding
  • Have not received any funds provided by the State of Iowa's Nonprofit Recovery Fund
  • Must have experienced a COVID-19 loss of revenue on or after March 17, 2020 that resulted in unpaid bills for electric or natural gas utility service provided between March 17, 2020 and June 30, 2020
  • Applicants' average monthly electric usage must not exceed 25,000 kWh for electricity or 2,500 therms for natural gas (review with your utility bill and/or contact your utility provider to confirm)
  • Businesses must be open


Applicant to complete a payroll template [.XLS] with employee information as of March 1, 2020


Applicants are required to complete the pre-application screening below. Upon successful completion of this screening checklist, the applicant will be provided with the link to the full application. By clicking below, you confirm you have read the eligibility guidelines and FAQ documentation.

Pre-Application Checklist

Monday, July 6th

Provided by Small Business Administration (SBA)

Notice: Paycheck Protection Program has reopened. The Paycheck Protection Program resumed accepting applications July 6, 2020, at 8:00 AM CST in response to President signing the program's extension legislation. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020.

Wednesday, June 24th

 We have updated our PPP loan forgiveness checklist to reflect the most recent changes. One of the changes includes an update to forgiveness of owner compensation for individuals with self-employment income-

  • Forgiveness of owner compensation for individuals with self-employment income filing a Schedule C or F is limited to either 8 weeks’ worth of 2019 net profit (up to $15,385) for an 8-week Covered Period or 2.5 months’ worth of 2019 net profit (up to $20,833) for a 24-week Covered Period

Revised Checklist

Tuesday, June 23rd

Provided by Iowa Bankers Association

The U.S. Small Business Administration issued a new interim final rule Monday implementing regulation changes made to the Paycheck Protection Program loan forgiveness process by the PPP Flexibility Act and other recent developments, including the SBA’s simplified Form 3508EZ forgiveness application. The rule conforms previous rules to reflect provisions of the PPPFA, including the covered period for forgiveness, non-payroll costs eligible for forgiveness, reductions in the forgiven amount and the timing of when borrowers must apply for forgiveness to avoid making payments. It confirms that borrowers may submit forgiveness applications any time on or before the loan matures, including before the end of the covered period, provided they have used all of the loan funds for which they wish to apply for forgiveness. The rule also incorporates exemptions in the PPP Flexibility Act that preserve loan forgiveness for employers that made good-faith attempts to rehire employees or fill vacant positions (and retained a previous exemption for employers that have reduced employee hours and offered in good faith to restore them) or whose business could not return to normal because of public health directives. The SBA interpreted the latter exemption to include “both direct and indirect compliance” with state and local shutdown orders as well as federal guidance. Read the full interim rule.

Thursday, June 18th

Provided by Iowa Bankers Association

SBA streamlines PPP forgiveness application for many PPP borrowers (June 17, 2020): The U.S. Small Business Administration today released a three-page “EZ” Paycheck Protection Program loan forgiveness application requiring less documentation and fewer calculations than previously required. Form 3508EZ applies to borrowers who meet any of these three criteria:

  • Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees.
  • Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excepting laid-off employees who refused an offer to return).
  • Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

The streamlined forgiveness form is expected to smooth the forgiveness application process for a substantial portion of PPP borrowers. The SBA also updated the regular Form 3508 to reflect recent changes made by Congress in the PPP Flexibility Act and issued a new interim final rule that implements changes made by the PPPFA.
Documents provided by the SBA:

Form 3508EZ

Instructions for Form 3508EZ


Revised 3508

Instructions for Form 3508



Please contact your local lender with questions, or for more information.

Tuesday, June 16th

Provided by the Small Business Association (SBA)

To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.

 “The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact.  With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza.  “Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible.  To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”

 SBA’s EIDL program offers long-term, low interest assistance for a small business or non-profit.  These loans can provide vital economic support to help alleviate temporary loss of revenue.  EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses.  Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.

SBA’s COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance

  • The SBA is offering low interest federal disaster loans for working capital to small businesses and non-profit organizations that are suffering substantial economic injury as a result of COVID-19 in all U.S. states, Washington D.C., and territories.
  • These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan.  The interest rate is 3.75% for small businesses.  The interest rate for non-profits is 2.75%.
  • To keep payments affordable for small businesses, SBA offers loans with long repayment terms, up to a maximum of 30 years.  Plus, the first payment is deferred for one year.
    In addition, small businesses and non-profits may request, as part of their loan application, an EIDL Advance of up to $10,000. 
  • The EIDL Advance is designed to provide emergency economic relief to businesses that are currently experiencing a temporary loss of revenue.  This advance will not have to be repaid, and small businesses may receive an advance even if they are not approved for a loan.
  • SBA’s EIDL and EIDL Advance are just one piece of the expanded focus of the federal government’s coordinated response.
  • The SBA is also assisting small businesses and non-profits with access to the federal forgivable loan program, the Paycheck Protection Program (PPP), which is currently accepting applications until June 30, 2020.

Tuesday, June 9th

Provided by Iowa Bankers Association

With the president signing the Paycheck Protection Program Flexibility Act last week, U.S. Treasury Secretary Steven Mnuchin and Jovita Carranza, U.S. Small Business Administration administrator, issued a joint statement promising to issue rules and guidance, a modified borrower application, and a modified loan forgiveness application implementing the changes to the PPP. The bill implements the following changes:

  • Extends the covered period for loan forgiveness from eight weeks after the date of loan disbursement to 24 weeks after the date of loan disbursement, providing substantially greater flexibility for borrowers to qualify for loan forgiveness.
  • Lowers the requirements that 75% of a borrower’s loan proceeds must be used for payroll costs and that 75% of the loan forgiveness amount must have been spent on payroll costs during the 24-week loan forgiveness covered period to 60% for each of these requirements. 
  • Provides a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees for borrowers that are unable to return to the same level of business activity the business was operating at before Feb. 15th, due to compliance with requirements or guidance related to worker or customer safety requirements related to COVID–19.
  • Provides a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees, to provide protections for borrowers that are both unable to rehire individuals who were employees of the borrower on Feb. 15, and unable to hire similarly qualified employees for unfilled positions by Dec. 31st.
  • Increase to five years the maturity of PPP loans that are approved by the SBA on or after June 5th.
  • Extends the deferral period for borrower payments of principal, interest and fees on PPP loans to the date that the SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, 10 months after the end of the borrower’s loan forgiveness covered period).
  • Confirms that June 30th remains the last date on which a PPP loan application can be approved. 

Please disregard the previously posted PPP loan forgiveness application. As stated, they will be issuing a new forgiveness application. We have updated our checklist to accommodate the changes and that is found below. We'll continue to update you with the new information and resources, as soon as we receive them.

 Checklist for Forgiveness 

Monday, June 8th

Provided by Iowa Bankers Association

President Donald Trump signed the Paycheck Protection Program Flexibility Act Friday. This legislation offers more flexibility for the Paycheck Protection Program to provide aid to small businesses adversely impacted by the coronavirus. The bill extends the window for businesses to spend PPP loans, which was established by $2.2 trillion coronavirus relief legislation signed at the end of March. The bill passed the Senate by unanimous consent on Wednesday after the House approved the bill in a 417-1 vote last week.

Benefits include:

  • The original coronavirus relief package gave businesses 8 weeks to spend PPP funds. The bill signed into law Friday extends that period to 24 weeks.
  • The 75-25 ratio included in the March bill requiring businesses to spend 75% of the PPP loan on payroll and 25% on other fixed costs, has been adjusted to a 60-40 ratio.

Wednesday, June 3rd

Provided by Iowa Bankers Association

Treasury Department resolves issues with EIP prepaid debit cards (June 2, 2020): The U.S. Treasury Department has resolved several problems with the Economic Impact Payment prepaid debit cards it used to distribute coronavirus stimulus payments. The debit cards have been sent to about 4 million Americans in the past few weeks and nearly all of the cards have been mailed out. Many people threw the cards away, believing they were a credit-card solicitation or a scam. To replace a lost or stolen card, consumers should call 800-240-8100 and press “2” when prompted for a lost or stolen card, and enter the last six digits of their Social Security number. The Treasury Department also said it has increased the daily limit for cash withdrawals from $1,000 to $2,500; allowed recipients to transfer all of the money from their EIP card to a bank account for free; and verified that cards issued with an incorrect last name (such as a spouse’s name) are still valid.

Please contact a customer service representative with questions.

Thursday, May 28th

The Small Business Administration (SBA) has released the Loan Forgiveness Application for the Paycheck Protection Program (PPP) loans.

With some parts of the application being self-explanatory, and other parts being very complex, the SBA promises they will issue further guidance to assist borrowers as they continue to go through applications.

As we wait for the promised guidance, we strongly encourage you to:

  • Familiarize yourself with the application
  • Document your expenses from your business checking account
  • Begin collecting current and prior payroll information
  • Keep track of your progress by utilizing the Checklist we've created for you

Things continue to change, and we will continue to notify you of these changes and new information released about the PPP loans as we receive it. We are also frequently updating this blog with new information, so please check here for the most up-to-date information.

Previously posted guidance:

Access the Paycheck Protection Program Loan Forgiveness Instructions and Application

Application Instructions Summary

Tuesday, May 26th

Provided by the Small Business Administration (SBA)

SBA and Treasury released two new Interim Final Rules Friday (May 22nd) night.

The Interim Final Rule on Loan Forgiveness can be found here. It provides some additional details on the loan forgiveness process, but one item we want to highlight is the decision to now allow bonuses and hazard pay as part of forgivable payroll.

  • Are salary, wages, or commission payments to furloughed employees; bonuses; or hazard pay during the covered period eligible for loan forgiveness? (From page 11 of the Interim Final Rule on Loan Forgiveness)
    • Yes. The CARES Act defines the term “payroll costs” broadly to include compensation in the form of salary, wages, commissions, or similar compensation. If a borrower pays furloughed employees their salary, wages, or commissions during the covered period, those payments are eligible for forgiveness as long as they do not exceed an annual salary of $100,000, as prorated for the covered period. The Administrator, in consultation with the Secretary, has determined that this interpretation is consistent with the text of the statute and advances the paycheck protection purposes of the statute by enabling borrowers to continue paying their employees even if those employees are not able to perform their day-to-day duties, whether due to lack of economic demand or public health considerations. This intent is reflected throughout the statute, including in section 1106(d)(4) of the Act, which provides that additional wages paid to tipped employees are eligible for forgiveness. The Administrator, in consultation with the Secretary, has also determined that, if an employee’s total compensation does not exceed $100,000 on an annualized basis, the employee’s hazard pay and bonuses are eligible for loan forgiveness because they constitute a supplement to salary or wages, and are thus a similar form of compensation.

Tuesday, May 26th

Beginning Monday, June 1st, all Frontier Bank lobbies will be reopening! We're excited to welcome you back, while keeping the health and safety of you and our employee's high priority. We're taking the following precautions to keep everyone safe:

  • Wellness advisory signs are posted at our entrances, encouraging those who do not feel well or have recently traveled to a high-risk area to visit at a later date, or use an alternative to in-person banking (ITM, Mobile Deposit, night drop, call or email).
  • Plexiglass dividers have been added to our teller stations, conference rooms and a few of our bankers' desks
  • Lobbies will be limited to 3 customers at one time, and bankers' desks will be limited to 2 customers at one time
  • Floor decals have been placed in our lobbies to encourage social distancing
  • We've implemented enhanced cleaning and sanitation measures including:
    • sanitizing stations have been added to bank entrances for customer use
    • employees will be cleaning teller stations and desks between each customer
  • We are highly encouraging masks when social distancing cannot be met; however, we are not requiring customers or employees to wear them

We truly appreciate your understanding and cooperation during this unprecedented time. If you have questions about our safety efforts or the reopening of our locations, please contact us.

Wednesday, May 20th

Provided by the Iowa Bankers Association

Only $100 billion left in Paycheck Protection Program (PPP) funding (May 19, 2020): As of Saturday, the U.S. Small Business Administration has approved more than 2.7 million Paycheck Protection Program loans totaling more than $195 billion during the second round of funding. The IBA was informed Monday that there is $100 billion left in funds. The average loan size during the second round of the program was $70,622. Lenders with more than $50 billion in assets accounted for more than $102.5 billion in loans. Lenders with less than $10 billion in assets accounted for nearly 63 billion in loans. Lenders with assets between $10 billion and $50 billion accounted for nearly $30 billion in loans. Through both rounds, the SBA has guaranteed more than 4.3 billion loans amounting to more than $513 billion. Iowa financial institutions have had 53,419 PPP loans approved, totaling $5.04 billion over the course of the program.

Documents previously provided by the SBA:


PPP Overview

PPP Information for Borrowers

Please contact your local lender with questions, or to submit an application.

Tuesday, May 19th

Provided by the Small Business Administration (SBA)

Paycheck Protection Program Loan Forgiveness

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 eight-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

Access the Paycheck Protection Program Loan Forgiveness Instructions and Application

Application Instructions Summary

Wednesday, May 13th

PPP Loan Forgiveness- What we know today

  • What costs are eligible for loan forgiveness
    • The actual amount of loan forgiveness is based on costs incurred and payments made during the covered 8-week period. Qualifying costs may include:
      • Payroll costs (salaries and wages, subject to $100k cap per employee, employer provided fringe benefits such as vacation, health and retirement benefits, and state unemployment tax payments)
      • Interest payments on a mortgage incurred in the ordinary course of business on real or personal property and that was in existence on Feb. 15, 2020
      • Rent payments under leasing agreements in existence on Feb. 15, 2020
      • Utility payments for which service was in existence on Feb. 15, 2020. SBA guidance did include fuel in a business vehicle as a qualified cost.
  • Are there limitations on loan forgiveness?
    • Yes, loan forgiveness is limited in the following circumstances:
      • Not more than 25 percent of the loan forgiveness amount can be attributable to non-payroll costs (i.e., mortgage interest, rent and utilities)
      • Proceeds from any advance up to $10,000 on an Economic Injury Disaster Loan (EIDL) will be deducted from the loan forgiveness amount
      • A reduction in the number of full-time equivalent employees
      • A reduction of individual employee wages by more than 25%
  • What terms apply to any loan amount that is not forgiven?
    • The principal amount of the PPP loan will continue on its original terms, including:
      • 2 year term
      • 1% interest rate
      • No payments required during the first six months
      • No prepayment penalty
  • What documentation must be submitted with an application for loan forgiveness?
    • We're still waiting for clear guidance from SBA on loan forgiveness. At a minimum, we expect you will be required to submit:
      • Documentation verifying the number of FTE employees and individual wages to prove forgiveness is not limited due to these factors
      • Payroll reports and other tax filings, such as W-3 or Form 941
      • Tax Return Documents, such as Sch C, F, if applying as a self-employed person or Form 1065, Form 1120 or 1120S for partnerships and corporations
      • Documentation, including invoices and cancelled checks for the non-payroll qualifying costs (mortgage interest, rent expense, utilities expense)
      • A certification that the information provided is true and correct

Because guidance is not currently clear, we strongly encourage detailed record-keeping during your covered 8-week period. It is always a good idea to save all invoices related to your business, but extremely important at this time. Also be sure to make qualifying cost payments out of business checking accounts, where applicable.

If you have questions, please contact your local lender.

Tuesday, May 12th

Looking for a safer way to pay for your essentials during Covid-19? Use a digital wallet! A digital wallet is a phone app or service that can be used to pay for purchases at participating stores. It’s a great a way to make purchases without touching frequently used credit card terminals.

When you link your Frontier Bank debit card to a mobile wallet, your card information is safe, and so are you. Visit our online solutions page to learn more about using your debit or credit card in a digital wallet, or select one of the services below to learn how to link your card.

Apple Pay
Google Pay

Monday, May 4th

Provided by the Small Business Association (SBA)

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories were able to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. 

SBA has resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15 and will be processing these applications on a first-come, first-served basis. SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses.

The new eligibility is made possible as a result of the latest round of funds appropriated by Congress in response to the COVID-19 pandemic.

Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.

At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. For agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, SBA will process these applications without the need for re-applying.

Eligible agricultural businesses may apply for the Loan Advance here.

Friday, April 24th

Provided by the Small Business Association (SBA)

Administrator of the U.S. Small Business Administration Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today on the resumption of the Payroll Protection Program (PPP):

 “We are pleased that President Trump has signed into law the Paycheck Protection Program and Health Care Enhancement Act, which provides critical additional funding for American workers and small businesses affected by the coronavirus pandemic.  We want to thank Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working with us on a bipartisan basis to ensure that the Paycheck Protection Program is funded so that small businesses can keep hardworking Americans on the payroll.

“The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 9:30AM CST from approved lenders on behalf of any eligible borrower.  This will ensure that SBA has properly coded the system to account for changes made by the legislation.

 “The PPP has supported more than 1.66 million small businesses and protected over 30 million jobs for hardworking Americans.  With the additional funds appropriated by Congress, tens of millions of additional workers will benefit from this critical relief.

Documents previously provided by the SBA:


PPP Overview

PPP Information for Borrowers

For questions or to submit an application, contact your local Frontier Bank lender.

Tuesday, April 21st

We're staying one step ahead of the game for if and when Congress releases more funds to help the businesses in our communities get back on the path to success. If you have yet to apply for a SBA Paycheck Protection Plan loan for your business, we are encouraging everyone to do so now. The second new funds are available, we will begin to process your applications.

Documents provided by the SBA:


PPP Overview

PPP Information for Borrowers

Contact your local Frontier Bank lender to get started.


Friday, April 17th

Provided by Iowa Bankers Association

Economic Impact Payments

  • "Get My Payment" Tool is live
    • Check your payment status
    • If your check is not issued, you can provide account information to receive an ACH instead
  • ACH payments have started
    • 80 million ACH payments processed this week
    • ACH files will be sent out each Friday (volume will vary but probably won't be as large) through the month of May
  • Checks
    • Checks will be mailed out starting early next week
    • 5-7 million checks anticipated each week (volume will vary)

Monday, April 13th

Provided by American Bankers Association (ABA)

Economic Impact Payment FAQ for Consumers

In March, Congress passed—and President Trump signed into law—the CARES Act, a $2 trillion economic relief package to provide assistance to American consumers and businesses struggling as a result of the coronavirus pandemic. A provision of the law includes sending government payments to eligible Americans. To help answer common questions about these payments, the American Bankers Association has developed the following questions and answers.

  1. How large a payment will I receive?
    The CARES Act outlines the parameters of who is eligible to receive a payment. The Internal Revenue Service is the agency responsible for determining eligibility. In general, single adults with an adjusted gross income of $75,000 or less will get $1,200. Married couples earning a combined adjusted gross income of $150,000 or less will receive a total of $2,400. Individual and married taxpayers earning over $75,000 and $150,000 respectively will get reduced payments with full phase-outs at $99,000 and $198,000. There are additional $500 payments for dependent children. For complete eligibility information please visit the IRS website.
  2. Will college students be eligible to receive a payment?
    The CARES Act definition of eligible individuals excludes those who are claimed as a dependent on another taxpayer’s return. Accordingly, to the extent a college student is claimed as a dependent on the tax return of a parent, he or she would not be eligible for the rebate. For complete eligibility information please visit the IRS website.
  3. When will I receive my payment?
    The Department of the Treasury intends to send the payments out as soon as possible. If you filed taxes in 2018 or 2019 and included your bank routing and account number for payments or refunds, and this information has not changed, the IRS has the information it needs to send your payment electronically. This could be as soon as the middle of April, according to Treasury. In addition, for Social Security recipients, the IRS will use direct deposit by the Social Security Administration to facilitate payments. If the direct deposit information you have provided in the past is for a bank-issued prepaid debit card, you will receive your funds on that card account. Recipients will be mailed a check if the IRS does not have your information on file. Check payments will follow weeks or possibly months after the direct deposits are sent.
  4. Can I receive my payment electronically if my current information is not on file with the IRS?
    The IRS is developing an online portal so you can check the status of your information and your payment. That portal—which will be called “Get My Payment”—is expected to be available by April 17. In addition, the IRS has launched a new web tool allowing quick registration for those who don’t normally file a tax return. For the most up-to-date information, visit While the IRS has extended the tax filing deadline this year from April 15 to July 15, another option is to file your 2019 taxes as soon as possible with bank routing and account number provided on the form.
  5. What if I am typically not required to file a tax return?
    People who typically do not file a tax return and are not Social Security beneficiaries will need to file a simple tax return to receive an economic impact payment. Certain low-income taxpayers, veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax. provides information instructing people in these groups on how to file a 2019 tax return with simple but necessary information, including their filing status, number of dependents and direct deposit bank account information. As noted above, Social Security recipients who have not been required to file tax returns will not be required to file a tax return to receive their payments.
  6. What is a bank routing and account number? 
    Bank routing and account numbers direct payments to the right bank account at the right financial institution. If you have a checking account at a financial institution the information is on the paper check. The bank routing number is on the lower left-hand side of the check and tells Treasury the correct bank to send the payment. Your individual account number is to the right of the routing number. That tells the bank to credit your specific account. Bank-issued reloadable prepaid debit card accounts have the same numbers, but the way they are provided to you will vary.
    Check Illustration
  7. How do I find this information if I can’t find my checkbook or was never issued any checks at all?
    Log in to your bank account online or by mobile app. Bank routing and account numbers may be located in different places in your app or online if you are logging in from a laptop or PC, depending on your bank. If you can’t find it easily, search “bank routing” within the app or website. If you still can’t find the information or can’t log on, call your bank for more information. You can also look up your bank’s routing number at Please remember that to protect your finances from fraudsters, banks will not provide your account number over the phone.

    Frontier Bank's Routing Number: 073921420
  8. I have a reloadable prepaid card with a bank. Can I direct the payment to that account?
    Yes, follow the same instructions to gather the routing and bank account numbers to provide via the IRS online portal.
  9. I have a bank account. Can I still receive a paper check?
    Yes, but be aware that your payment will be slower than an electronic transfer. Paper checks may be sent out weeks after the electronic checks are sent.

    If you are willing to wait, we recommend that you deposit the check through remote deposit capture, if your bank offers this service. This is basically taking a picture of your check through your bank’s smartphone app. Follow the simple directions and you can make the deposit from the comfort and safety of your home the same day the check arrives in the mail.

    Alternatively, you can make the deposit at your bank’s ATM.

    The important thing to remember is that with branches closed or restricted, you may be required to visit a bank drive-through location if you want to deposit the check in person.
  10. I don’t have a bank account, but want to receive my money faster. What can I do?
    Many banks open accounts for most customers online without you ever needing to step into a bank branch. That is important because most bank branches are restricting access due to coronavirus concerns. Search online for banks that offer digital account opening, and reach out to banks to see if they are offering new, flexible ways to become a customer. One type of bank account that accepts direct deposit is a bank-issued reloadable prepaid card often available at retailers that partner with a bank. Please make sure that the card is “reloadable” in order to receive direct deposit. When the account is open you will have the bank routing and account number to provide to the IRS. Please check with the bank you are working with to understand all of the terms and conditions of opening an account.

    Open an Account
  11. What can I do to prevent fraudsters from accessing my funds?
    There will be a large amount of funds disbursed to qualifying individuals. Accordingly, there is a risk for fraud of various types. The IRS has announced various ways individuals can be on guard against these types of bad activities. See the notice.

    It is important to remember that banks or the federal government will never contact you by telephone, text or email asking for your account information. Do not provide any banking information to anyone claiming to be registering you for your relief payment.

Monday, April 13th

Provided by the American Bankers Association (ABA)

Protect Your Economic Impact Payment: Top 5 Scams to Watch Out For

As eligible Americans prepare to receive their economic impact payment from the government, fraudsters are ramping up their efforts to scam people out of their payment. To help consumers protect themselves, ABA is highlighting the five most common scams to watch out for:

  1. Offer early access to payment.
    There is no exact timeline for when eligible consumers will receive economic impact payments. Anyone who promises early or fast payment in exchange for personal information is most likely a scammer.
  2. Use suspicious phrases.
    The IRS has stated that the official term for payments is “economic impact payment.” If you receive any correspondence using the phrases “stimulus check” or “stimulus payment,” it may be a clue that a fraudster trying to take your cash.
  3. Send “phishy” emails or texts.
    Government agencies will never correspond through email or text message. If you receive a message with a link asking you to register online in order to receive your economic impact payment, you are most likely being scammed. Do not click on the link.
  4. Make bogus phone calls and texts asking for personal information.
    Consumers do not need to take any action to receive their economic impact payment. If you receive a phone call or text from someone claiming to be from your bank or a government agency asking to verify your personal information, hang up immediately and call your bank or report it to the IRS.
  5. Mail a phony check.
    Some scammers will send out fake checks—with either the correct or incorrect economic impact payment amount—and require the recipient to verify personal information in order to cash it. The only mail correspondence you should receive will come from the IRS in the form of a letter with information on how the economic impact payment was made and how to report any failure to receive the payment.

Friday, April 10th

As the COVID-19 outbreak continues to affect our local communities and nation, we understand that social distancing and other precautionary measures greatly change how we live our lives.

Because our care for you goes beyond your finances, we have decided to temporarily waive one of the qualifiers on our BIG DEAL Cash and Cash Back Checking accounts!

Change to the BIG DEAL qualifiers:

  • Have a minimum of 12 debit card transactions post and settle each month- Waived for the month of April 2020
  • Have at least one direct deposit or automatic payment post and settle each month- remains unchanged
  • Receive eStatements- remains unchanged

We hope by temporarily eliminating the qualifier that supports being out and about, you will feel even more encouraged to stay home and stay healthy. During this time of uncertainty, please continue to call your local Frontier Bank with questions or to discuss your finances. We are here to help provide relief for you and your family- You're a BIG DEAL here!

Friday, April 3rd

Provided by Dakota Business Finance

The South Dakota Legislature has approved SB192 to create a new $10.5 million state loan fund to assist businesses impacted by COVID-19. 

The loan program will provide up to $75,000 per business at a 0% rate.  Additional information is below. 

The release states that you should contact your business development representative for more details. 

Click here to view all of the South Dakota Governor's Office of Economic Development (GOED) staff.  The representatives are split up by territory.  The two business representatives for Lincoln and Minnehaha Counties are Katherine Kirby Nelsen and Eric Seimers. 

Wednesday, April 1st

Provided by U.S. Small Business Association (SBA)

Paycheck Protection Program (PPP)

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

Under this program:

  • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
  • Loan payments will be deferred for six months.
  • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.

Recently published documents from the SBA:

PPP Overview


PPP Information for Borrowers

Contact your local Frontier Bank lender to get started.

Monday, March 23rd

Provided by Iowa Economic Development


On Monday, March 23, Governor Reynolds announced a new Iowa Small Business Relief Program that will provide financial assistance to small businesses and tax deferrals to any Iowa businesses that have been economically impacted by the COVID-19 pandemic. Application deadline is Tuesday, March 31, at 12 p.m.

For more information or to apply, visit the Iowa Economic Development site,

Wednesday, March 18th at 3:30PM

Slowing the spread- What can we do? At Frontier Bank our care for our customers goes way beyond finances which is why we feel a strong responsibility to do our part in slowing the spread of the COVID-19 Virus.  

Effective at end of business today, March 18th and until further notice, access to the inside of any Frontier Bank branch will be available by appointment only.

  •  All ITMs will be open normal hours.
    • Monday-Friday: 7am-7pm and Saturday: 9am-1pm
  • Our loan officers and staff will be available by phone to answer any questions and set appointments.
  • If your banking needs require a visit to your local branch, please start with a phone call. Our staff will work creatively to meet your banking needs without increasing the risks for you or our staff.
  • If you're awaiting a mortgage closing, loan signing or other timely matter, a Frontier Bank employee will be in contact with you.

 Frontier Bank plans to remain fully staffed to accommodate all your banking, mortgage and investment services needs. We are taking this precaution to limit and control the environment of any in-person interactions. This critical step, among others, is being taken to help with social distancing, identified as a key deterrent to the spread of the virus. 

During this time, we encourage you to conduct your banking business utilizing the following methods:

 Above all, we are thankful for the opportunity to serve you. Since starting almost 90 years ago, Frontier Bank has worked alongside of you through many different events effecting our local economy, and we will be here for you through this too. 

Tuesday, March 17th

Provided by the Small Business Association (SBA)

Today, as part of the Trump Administration’s aggressive, whole-of-government efforts to combat the Coronavirus outbreak (COVID-19) and minimize economic disruption to the nation’s 30 million small businesses, U.S. Small Business Administration Administrator Jovita Carranza issued revised criteria for states or territories seeking an economic injury declaration related to Coronavirus (COVID-19).

The relaxed criteria will have two immediate impacts:

  • Faster, Easier Qualification Process for States Seeking SBA Disaster Assistance. Historically, the SBA has required that any state or territory impacted by disaster provide documentation certifying that at least five small businesses have suffered substantial economic injury as a result of a disaster, with at least one business located in each declared county/parish. Under the just-released, revised criteria, states or territories are only required to certify that at least five small businesses within the state/territory have suffered substantial economic injury, regardless of where those businesses are located.
  • Expanded, Statewide Access to SBA Disaster Assistance Loans for Small Businesses. SBA disaster assistance loans are typically only available to small businesses within counties identified as disaster areas by a Governor. Under the revised criteria issued today, disaster assistance loans will be available statewide following an economic injury declaration. This will apply to current and future disaster assistance declarations related to Coronavirus.

“We’re very encouraged that banks and financial institutions are responding to the President’s efforts to mobilize an unprecedented public-private response to the Coronavirus (COVID-19) outbreak. As a result, most small businesses that need credit during these uncertain times will be able to obtain it. However, our goal is to ensure that credit is available to any and all small businesses that need credit but are unable to access it on reasonable terms through traditional lending channels,” said Administrator Carranza. “To that end, the SBA is relaxing the criteria through which states or territories may formally request an economic injury declaration, effective immediately. Furthermore, once an economic injury declaration has been made in a state or territory, the new rules allow the affected small businesses within the state or territory to apply for a disaster assistance loan.”

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for each affected small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending

  • The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19).
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
  • Once a declaration is made, the information on the application process for Economic Injury Disaster Loan assistance will be made available to affected small businesses within the state.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please visit the SBA disaster assistance website at

Friday, March 13th at 3:30PM

Just like you, we are monitoring the latest news of the coronavirus. We understand this pandemic will likely cause challenges and stress for you, our customers, which is why we want to reassure you that we are here for you. The health and safety of our customers and employees comes first, so we want to remind you that there are alternatives to in-person banking during this unprecedented time.

All five of our full-service branches are open and will remain open unless circumstances dictate otherwise. Please stay tuned to our emails, Facebook posts and website over the coming days and weeks for any changes. 

Our employees are taking these preventative steps to avoid the spread of the coronavirus and we encourage you to do the same:

  • Wash your hands multiple times a day with soap and water for at least 20 seconds
  • Limit touching your face and mouth
  • Use an alcohol-based hand sanitizer when soap and water are not available
  • Cover your mouth with a tissue or sleeve when you cough or sneeze
  • Avoid close contact with those who are sick
  • Routinely and thoroughly clean and disinfect all frequently touched surfaces
  • Stay home if you become sick, and remain home until you are free of symptoms for at least 24 hours







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