Due to the current COVID-19 Pandemic, until further notice our Clayton branch lobby will be closed to the public, with access by appointment only. Our Des Moines branch will be open from 10AM – 4PM and locked, but accessible during business hours by knocking or calling our main number. Our Roy branch will only be open on Tuesday’s from 10:30AM – 1:30PM. Please click the “Locations” tab for our branch phone numbers.
Last updated on March 27, 2020 by your Farmers & Stockmens Bankexperts
The Paycheck Protection Program is an SBA program that is part of the CARES Act working its way through Congress. Once Congress has approved the CARES Act and the President has signed it into law, the SBA will be able to complete development of the policies and regulations that will guide the program. All the specifics and details of the program will be determined by the final regulations and guidance issued by SBA.
In anticipation of the CARES Act and Paycheck Protection Program getting approved, Farmers & Stockmens Bank is encouraging Small Businesses to start submitting application information and get a jump start on the process for obtaining an SBA PPP loan. An overwhelming response is expected when the program is available so anything that can be done to be ahead of the curve should be.
Since the corresponding SBA regulation under the Paycheck Protection Program hasn’t been finalized, we don’t know the exact information required or final requirements. However, to be better prepared we are asking our clients to provide the information normally required for an SBA Loan, less anything that appears to be removed by the statute (primarily information related to the personal guarantee).
Once the legislation is approved, SBA will work expeditiously to finalize regulations and requirements to access the funding. Any additional information that the SBA requires will be collected at that time, and the loans will be processed in the order in which completed applications are received. Underwriting and closing requirements will be issued in the final SBA regulations and guidance at which time Farmers & Stockmens Bank can better set expectations for the approval and funding of SBA PPP loans.
Further Disaster support is being evaluated in Congress, including enhancements to the standard SBA 7(a) program, but no timetable has been identified on if/or when additional support will be available.
Should you have any questions or would like to discuss SBA options in greater detail, please click on the name below to connect with our banking team:
Larry Fluhman moved to Clayton in 1976, and five years later married his wife, Jay, a Clayton native. Raised on a ranch North of Roy, New Mexico, Larry is still active in ranching activities and remains heavily involved in the community, including being a Trustee at First United Methodist Church, a member of Clayton Rotary Club, part of Union County Economic Development, and more.
Larry started at Farmers & Stockmens bank back in 1986 and joined the Board of Directors in 1992. With more than 40 years of banking experience, Larry brings a wealth of knowledge to the team and customers at Farmers & Stockmens Bank and looks forward to what the future holds for the community.
Before emailing Larry, please be sure there are no account numbers, social security numbers or other sensitive information contained in your email.
Born and raised on a farm in Texas, Nick needs no translation when it comes to understanding the needs of farmers and ranchers. With a degree in Agricultural Business, nearly 20 years of banking experience, and a local wheat and corn operation of his own, Nick is personally passionate about extending the same level of care and consideration to every local resident. He specializes in agricultural lending, including farm and ranch real estate, and farm and ranch operating loans.
Before emailing Nick, please be sure there are no account numbers, social security numbers or other sensitive information contained in your email.
With lifelong involvement in the cattle business, Jordan offers beneficial insight from both sides of the desk. With a master’s degree from the University of Colorado School of Banking, Jordan is committed to creating a better future for rural communities through considerate care with banking, real estate, and farm or ranch lending programs.
Before emailing Jordan, please be sure there are no account numbers, social security numbers or other sensitive information contained in your email.
Vice President of Loans
A native of Clayton, Amy considers members of this community to be like family. As a consumer loan servicer proficient in auto loans, 4-H loans, student loans, home mortgages and more, she offers a personal touch for every client — whether conversing in English or Spanish. She is proud to work alongside clients long-term as the Bank’s Escrow Agent for Owner Finances.
Before emailing Amy, please be sure there are no account numbers, social security numbers or other sensitive information contained in your email.
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