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COVID-19 Updates, CARES Act, Resources & Community Support

During this challenging and uncertain time, our priority is providing our customers with the best service and support. Since there are times that you can't come to our lobbies for guidance, we will bring the bank to you with the assurance that we're here for you, wherever you are.

We've put together this portal with useful information about the CARES Act, PPP Loans, resources for you and your business, as well as community support information and helpful tips from 417 Magazine about supporting local businesses, staying connected and working from home.

We are here for you, wherever you are.


Paycheck Protection Program Loan Forgiveness

We understand that the PPP loan forgiveness process is important to your business. If you received PPP funding through OMB, you will need to submit your forgiveness application through us as well.

You will be receiving communication from our PPP Team in the coming weeks, providing you with a forgiveness application and guidance on the forgiveness process.


SBA Forgiveness Applications: To date, SBA has provided 3 applications for SBA Forgiveness:

  • SBA Form 3508 – Borrower must use this form if they are not eligible to use Form 3508EZ or Form 3508S
  • SBA Form 3508EZ – Simplified version for loans greater than $50M. To qualify, the borrower must be able to check at least one of the three boxes on page 1 of the Form 3508EZ Instructions. If the borrower is not able to answer one of the three boxes on page 1 of the instructions, they must use Form 3508.
  • SBA Form 3508S – Streamline application for loans $50M and under.
    • A borrower that, together with its affiliates, received PPP loans totaling $2 million or greater cannot use this form.
    • SBA Form 3508S is exempt from any reductions in the borrower’s loan forgiveness amount based on reductions in full-time equivalent (FTE) employees or reductions in employee salary or wages, that would otherwise apply.


How to Prepare:

Please review the information below and contact your OMB Community Banker if you have additional questions:

  • Understand the eligible cost (payroll, mortgage interest, rent payments and utilities)
    • If Payroll Costs alone are sufficient to receive FULL forgiveness of the loan amount, you do not need to include Non-Payroll Costs in the calculation nor do you have to provide Non-Payroll documentation.
  • Gather and keep records on eligible expenses – below is documentation that you will be required to submit to the bank with your forgiveness application.


Payroll: Documentation verifying the eligible cash compensation and non-cash benefit payments from the Covered Period or the Alternative Payroll Covered Period consisting of each of the following:

  1. Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees.
  2. Tax forms (or equivalent third-party payroll service provider reports) for the periods that overlap with the Covered Period or the Alternative Payroll Covered Period:
    1. Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and
    2. State quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state.
  3. Payment receipts, cancelled checks, or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that the Borrower included in the forgiveness amount.


Nonpayroll: Documentation verifying existence of the obligations/services prior to February 15, 2020 and eligible payments from the Covered Period.

  1. Business mortgage interest payments: Copy of lender amortization schedule and receipts or cancelled checks verifying eligible payments from the Covered Period; or lender account statements from February 2020 and the months of the Covered Period through one month after the end of the Covered Period verifying interest amounts and eligible payments.
  2. Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments from the Covered Period; or lessor account statements from February 2020 and from the Covered Period through Period verifying eligible payments.
  3. Business utility payments: Copy of invoices from February 2020 and those


Covered Period vs. Alternative Payroll Covered Period

  • Covered Period – 8-week or 24-week period starting on the date of the loan disbursement.
    • Loans approved prior to June 5th, borrower may elect to use 8-week or 24-week
    • Loans approved on or after June 5th must use 24-week
  • Alternative Payroll covered Period
    • Applies to payroll cost only.
    • Borrower may elect to use Alternative if they have biweekly or more frequent payroll.
    • Alternative Payroll Covered Period: 8-week or 24-week period that begins on the first day of the first payroll cycle following the loan disbursement date.


Compensation per employee is limited to $100,000 on an annualized basis.

  • 8-week a maximum of $15,385
  • 24-week a maximum of $46,154


Owner Compensation (across all businesses): Those with a 5% or more ownership will be subject to the owner-employee compensation maximum.

  • 8-week Covered Period – Capped at $15,385 or 8 weeks’ worth (8/52) of 2019 compensation (approximately 15.38% of 2019 compensation), whichever is less.
  • 24-week Covered Period –Capped at 2.5 months' worth (2.5/12) of 2019 compensation (approximately 20.83% of 19 compensation, whichever is less.


Please note the following changes in accordance with the Paycheck Protection Forgiveness Flexibility Act (PPPFA)

    • Drops the 75/25 payroll rule to 60/40
    • Provides a five-year maturity for loans made on or after June 5, 2020, and provides an option for loans made prior to that date to extend maturity from two years to five years at the mutual agreement of the borrower and lender
    • Extends the loan forgiveness period from eight weeks to 24 weeks (for loans made prior to June 5, 2020, borrowers may opt to keep the forgiveness period at eight weeks)


Please contact your OMB community banker if you have any questions. We will continue updating our website as more information becomes available. 



OMB's Small Business Toolkit

Every day, we are committed to serving our small business customers. Now, when things are so uncertain, we want to support small businesses in every way we can. We have collected resources to help you navigate the changes, in easy-to-read downloadable guides - Learn More.

Download Full Toolkit


Other Helpful Resources Available

SBA Disaster Assistance in Response to the Coronavirus

MO Dept. of Economic Development

Missouri COVID-19 Resources

CoxHealth COVID-19 Resources

Ozarks Food Harvest Response to COVID-19

Springfield Chamber of Commerce COVID-19 Resources

Springfield Public Schools

CARES Act for Coronavirus Relief

On Thursday, April 2, 2020, the Treasury Department issued final guidance for the Paycheck Protection Program, which starting this week will provide up to $349 billion in fully forgivable loans to help small businesses maintain payrolls during the coronavirus pandemic.

Small businesses and sole proprietorships - generally, those with 500 or fewer employees - may apply for PPP loans with their bank starting on Friday, April 3; independent contractors and self-employed workers can apply starting April 10. PPP loans will be fully forgiven when used for payroll costs, interest on mortgages, rent and utilities, with at least three quarters of the forgiven amount being used for payroll; forgiveness is based on employers maintaining headcount or quickly rehiring and maintaining salary levels.

For important information from the Treasury Department, including guidance and an application, please see the following links:

Information Guidance for Borrowers 

Application FormPDF Download

Learn more at

Please contact your Renasant Banker if you have any questions.

Last week the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (or the CARES Act). The CARES Act created the Paycheck Protection ProgramPDF Download (or PPP). Under this program, banks will be able to help offer small businesses relief in the form of forgivable loans guaranteed by the Small Business Administration (or SBA) to eligible small businesses in amounts up to $10 million (with the actual amount based on the borrower’s average monthly payroll and certain other costs in the previous year).


Paycheck Protection Program

  • $349 Billion Small Business Administration (SBA) loan program 
  • Three month program administered by banks in partnership with SBA ending June 30
  • SBA guaranteed 

How it Helps You

  • Provides an alternative to furloughs or layoffs to ride out the COVID-19 storm
  • Allows eligible businesses to cover payroll, mortgage, rent, utilities


  • Small businesses with less than 500 employees as well as non-profits, sole proprietors and independent contractors

Loan Terms:

  • 2.5x the average monthly cost of payroll incurred over the last twelve months, not to exceed $10 million
  • 1% maximum rate without pre-payment penalty and generally full deferral for up to one year of principal and interest for six months
  • Unsecured and no guarantees required

Loan Forgiveness:

  • To be forgiven, loans must be used for payroll expense, mortgage interest, mortgage obligations, rent and utilities in the 8 weeks following disbursement   
  • Note: the amount subject to forgiveness is reduced if the borrower reduces its workforce or employee compensation

How to Prepare:

  • Gather payroll documentation for 2019 and 2020 year-to-date
  • After loan is funded, track 8 weeks of mortgage interest, mortgage payments, rent & utilities (loan forgiveness)
  • Note: The CARES Act is unclear on (1) how a borrower demonstrates eligibility for a PPP loan and (2) the documentation needed to calculate the loan amount. The SBA guidance is expected to clarify these issues, thus borrowers should gather this payroll documentation now due to high demand

Please contact your OMB community banker if you have any questions. We will continue updating our website as more information becomes available. 

  • What are your hours of operation?
    • 24/7 with:
      • Online Banking     
      • Mobile Banking
      • You’ll be able to:
    • Drive-thru hours are:
      • Springfield – South National
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Springfield – Sunshine Street
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Ash Grove
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Carthage
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Mt. Vernon
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 8:00am – 12:00pm
      • Buffalo
        • Mon – Fri: 8:00am – 6:00pm
        • Saturday: 8:00am – 12:00pm
      • Walnut Grove
        • Mon – Fri: 9:00am – 3:00pm
        • Saturday: Closed
    • For directions to branch locations, visit our Locations page


  • Where are your ATMs located?
    • We have over 24,000 ATMs nationwide – find your closest MoneyPass ATM.


  • What do I do if I have lost my Debit Card?
    • No problem! Please contact your local branch or email us at [email protected] for quick assistance.
    • Our instant issue cards will be available for pick up at our South National – Springfield and Carthage drive-thru locations.
    • If we are mailing a new card, please expect arrival in 7 to 10 business days.
    • Don’t forget about CardValet – turn your Debit Card on and off from the convenience of your phone.


  • What do I do if I have forgotten my PIN or I want to change the PIN for my Debit Card?
    • Please call 1.800.992.3808 to reset or change your PIN.


  • What is my daily Debit Card withdrawal or purchase limit?
    • $1,005 is the daily limit for an ATM withdrawal.
    • $1,500 is the daily limit for a Point-of-Sale purchase.



  • What do I do if I need to reorder my checks?
    • For current customer reorders, please go here to easily and quickly place your reorder.
    • Please contact your local branch for assistance or email [email protected].


  • How do I request a stop payment?


  • What if I am locked out of Online Banking or have forgotten my password?
    • Please call our Electronic Banking team at 417-761-7181 or email our Electronic Banking team at [email protected].



  • How do I make a wire transfer?
    • All wire transfers will be made at our drive-thru locations during regular drive-thru hours.
    • If you are unable to visit a convenient drive-thru location, please contact your local branch or email [email protected] for assistance.


  • How do I make a withdrawal on my CD/IRA or access my safe deposit box?


  • How will transactions that cannot be performed at an ATM or drive-thru be handled?
    • Any transactions requiring additional assistance will be completed by appointment only during this time. Please contact your local branch or email [email protected].


  • How do I get a cashier’s check?
    • All cashier’s checks will be made at our drive-thru locations during regular drive-thru hours.


  • How do I open a new personal checking account, savings account or CD?
    • You can open a new account in minutes via our website – it’s easy!
    • Or, if you would like to meet with a personal banker, please contact your local branch or email [email protected] to make an appointment.


  • How quickly will my funds be available after a deposit?
    • Our general policy allows you to withdraw funds deposited in your account on the first business day after the day we receive your deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first business day. Then the funds will generally be available by the ninth business day after the day of deposit.