First Western Bank & Trust will keep updating this page as more information becomes available.

Letter to Customers | April 3, 2020

Dear Valued Customer,

First Western Bank & Trust is your local community partner. We are encouraging our small business borrowers, who are impacted by COVID-19, to consider applying for the federal “Paycheck Protection Program” (PPP), which aims to support small businesses with:

  • Cash to cover select business expenses (such as employee salaries and payroll support, rent or mortgage and utilities payments, insurance premiums)
  • 6 months of deferred loan payments
  • Loan forgiveness (a portion, or possibly all, of your loan may be forgiven)
  • Last day to apply for a PPP loan is June 30, 2020.

This information will be needed to present to the bank to apply for the loan:

  • Copies of payroll tax reports filed with the IRS (including Forms 941, 940, state income and unemployment tax filing reports) for the entire year of 2019 and first quarter of 2020 (if available) should be presented.
  • Copies of payroll reports for each pay period for the preceding 12 months. Such reports should include gross wages including PTO (which might include vacation, sick, and other PTO). This includes payroll reports through the pay period preceding the origination of the SBA loan. 2019 Quarterly Job Service Wage and Certification Reports and 2020 first Quarter if available.
  • Documentation reflecting the health insurance premiums paid by the company under a group health plan including owners of the company for the immediately preceding 12 months prior to the date of the SBA loan origination (Copies of the monthly invoices should suffice).
  • Documentation of all retirement plan funding by the employer for the immediately preceding 12 months (Copies of work papers, schedules and remittances to the retirement plan administrator should be sufficient).

To apply, please fill out the application form and submit it to First Western Bank & Trust and include other required documentation.

Application Form 

Fact Sheet


First Western Bank & Trust may require additional information. Loan forgiveness will require appropriate documentation. Terms and conditions are subject to change.

We are here for you and your business. Please contact us if you have any questions:

Minot: (701) 852-3711
Bismarck: (701) 255-4400
Eden Prairie: (952) 516-7300

What is the CARES Act?

The CARES Act stands for Coronavirus Aid, Relief, and Economic Security Act. It allocates money to help small businesses keep workers employed during the Coronavirus pandemic. 


SBA Paycheck Protection Program (PPP) Small Business Disaster Relief Program (EIDL)
  1. Small Business with 500 employees or less
  2. Nonprofit Organization (501(c)(3) organization) and veteran’s organization
  3.  Tribal Business
  4.  Sole Proprietors
  5. Independent Contractors
  6. Self-employed Individuals
  7. Small business with more than 1 physical location (e.g. Accommodation and Food Services)
  8. Business operating under affiliated rules (e.g. a franchise business)
  1. Small Businesses with 500 employees or less
  2. Sole proprietors
  3. Individual contractors
  4. Cooperatives with fewer than 500 employees
  5. ESOPs with fewer than 500 employees
  6. Tribal Business
  7. Private Nonprofit Organizations – 501(c)(3)
  8. Small Agricultural Cooperatives
  9. Small business with more than 1 physical location (e.g. Accommodation and Food Services)
  10. Business operating under affiliated rules (franchise)
Requirements Must certify business impact by COVID-19 and use of funds to retain workers, maintain payroll and other debt obligations Waives the requirement that a business be operational one year before the disaster
Loan Max $10 M $2 M
Government Guarantee Per criteria Per criteria
Payment Deferment Allowed Yes Yes
Allowable Uses of Funds
  1. Payroll costs
  2. Costs related to the continuation of group health care benefits during periods of paid sick, medical, or family leave, and insurance premiums
  3. Employee salaries, commissions, or similar compensations
  4. Payments of interest on any mortgage obligations (which shall not include any prepayment of or payment of principal on a mortgage obligation)
  5. Rent (including rent under a lease agreement)
  6. Utilities
  7. Interest on any other debt obligations that were incurred before February 15, 2020
  1. Providing paid sick leave to employees unable to work due to the direct effect of the COVID–19
  2. Maintaining payroll to retain employees during business disruptions or substantial slowdowns
  3. Rent Payments or mortgage payments
  4. Meeting increased costs to obtain materials unavailable from the applicant’s original source due to interrupted supply chains
  5. Repaying obligations that cannot be met due to revenue losses
Payment Forgiveness Per criteria Per criteria
How/Where to Apply Local lender
Loan Term 2 Years 30 Years


Please note: This information was accurate on the day it was produced but is changing rapidly. Consult your advisors before making decisions. EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.