Horizon Community Bank will continue to be a conduit for our clients and the community to receive information and assistance through the programs that will be available. Please check out website and social media sites for the most up to date information.

Please contact your local Horizon Community Branch for more information:

Lake Havasu City Banking Center              (928) 854-3000

Lake Havasu City Mortgage Center          (928) 854-4003

Mesa Banking Center                                  (480) 558-1220

Ft. Mohave Banking Center                       (928) 788-9400

Parker Banking Center                                (928) 669-2366

Quartzsite Banking Center                         (928) 923-4596

Kingman Banking Center                            (928) 681-0340

Goodyear Loan Center                                (480) 558-1220

Biltmore Loan Center                                  (480) 558-1220

Horizon Community Bank logo

Payment Protection Program


We want to keep our clients and communities informed HCB is in the process of providing the documentation needed. HCB will be reaching out to assist our customers with the forgiveness portion of the PPP Loans


The Small Business Administration today released a “EZ” Paycheck Protection Program loan forgiveness application requiring less documentation and fewer calculations than previously required. Form 3508EZ applies to borrowers who meet any one 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. 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.


Business Loan Program Temporary Changes; Paycheck Protection Program – Revisions to the Third and Sixth Interim Final Rules

IFR 3 and 6 revisions (6.16.2020) PDF

Paycheck-Protection-Program-Frequently-Asked-Questions 062520

PPP–IFR–Additional-Eligibility-Revisions-to-First-Interim-Final-Rule 6.24.20 PDF

PPP IFR 3 and 6 revisions (6.16.2020) signed PDF



PPP Loan Forgiveness Application Instructions (Revised 6.16.2020) PDF

Loan Forgiveness Application Revised June 16, 2020

PPP Loan Forgiveness Application (Revised 6.16.2020) PDF


PPP Loan Forgiveness Application Form EZ Instructions (Revised 06.16.2020) PDF

PPP Loan Forgiveness Application Form 3508EZ

PPP Forgiveness Application 3508EZ ( Revised 06.16.2020) PDF

Horizon Community Bank logo

Payment Protection Program

Week One Status Update-  April 10, 2020


We could not be more pleased with our team’s performance through the first real week of a new federal program, launched just one week ago.  A team of approximately 22 dedicated bankers at Horizon Community Bank read reems of data to create a program and a process to handle the CARES Act supported Payment Protection Program loans.  To put this in perspective we are a $350 million bank, and, by size, that makes us 0.02% the size of the $2 trillion giants.


We have already secured allocated funding from the SBA under the Payment Protection Program totaling $29 million, and this is estimated to aid in the retention of 3,912 jobs in our communities.  We have issued loan documents to 66 clients and received back over ¾ of these and they are in various stages of funding.  Our normal loan document production is 20 – 30 per month, and we managed to get 66 sets of documents to clients in just under a week, with many of these being booked and funded.


We thank our team from the bottom of our hearts.  You have made a difference to our communities.  We estimate that we will process and fund over 500 loans in three or four weeks and we hope to assist in retaining over 10,000 jobs in our communities.


This reminds me of the starfish story, where two people are walking down the beach covered in star fish, and one lady reaches down grabs a starfish and throws it back in the ocean.  The other person states “you cannot possibly make a difference”, and the lady replies “it made a difference to that starfish.”  Our team is doing its very best to serve our clients and communities.  We are thankful for such a dedicated team of bankers that understand our mission and execute on our vision.


Happy Easter to all!



Ralph E. Tapscott

President and CEO


Horizon Community Bank logoA Message to Our Clients and Communities:

I assure you that we are doing everything within our power to assist in the flow of funds from the
Federal Government to main street Arizona. We have a team of 92 bankers which includes 22 credit
professionals working tirelessly through this process. This includes weekends, early mornings and
late evenings. I applaud their valiant work. I know we are making a difference, but we would like
to do more.

As of noon Tuesday, we had to cease accepting applications from non-clients. This was not an easy
decision. At this time there appears to be plenty of Federal Money available, but many banks are
tapped or near tapped on internal capital and liquidity. This is being addressed by the Treasury
through the Federal Reserve Banking system and the various regulatory agencies. This is their
number one priority. Please remember that Congress just passed, and the President just signed into
law a program that throws nearly three times the economic stimulus into the economy than was
provided in the 2008 crisis. The funding in 2008 was spread over nearly 15 months. This program
was created in 18 days and rolled out last Friday. Guidance is changing quickly, and we are trying
to stay abreast of these changes.

We are having conversations with municipal leadership, our state and federal associations, members
of Congress, and our federal and state regulatory partners. We expect the federal solution to be
operational by the middle of next week, if not earlier.

What has our team done to-date:
• We are processing 367 applications as of 5:00 pm yesterday.
• We normally process approximately 20 applications per month, and now expect to be doing that
• We have secured SBA appropriations for $23,184,800 in loans as of last night.
• Loan documents and funding have now started at Horizon Community Bank.

We will do our best to communicate with you on a regular basis. We are devoting significant
resources to help be a solution, and many other banks and our federal system are committed to
making this work.

Thank you for your continued support and patience.

Ralph Tapscott

President/ Chief Executive Officer


PDF Update News Release 040920201

Horizon Community Bank logo

Your friends at Horizon Community Bank want to make you aware that on March 25, 2020, the Senate passed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), which provides crucial support and relief for businesses, including $349 billion for Small Business Administration (SBA) loans under its 7(a) loan program.  This has now passed the House of Representatives and been signed into law by President Trump.

This is what we know at this time – For these potentially forgivable loans, the CARES Act increases the maximum 7(a) loan amount to $10 million and expands allowable uses of 7(a) loans to include payroll support (including paid sick or medical leave), employee salaries, mortgage payments, insurance premiums and interest on any other debt obligations that were incurred before February 15, 2020. Under the CARES Act, the covered loan period for this program would begin on February 15, 2020, and end on December 31, 2020. The entities eligible for 7(a) loans under the CARES Act include small businesses, any business concern, nonprofits and veterans organizations with 500 or fewer employees (or the applicable size standard for a particular industry), as well as sole proprietors, independent contractors and certain self-employed individuals.

Key specifics related to the expanded 7(a) Loan program includes, among other things:

  • The maximum loan amount, up to $10,000,000, is calculated by multiplying the average total monthly payments by the applicant for payroll costs incurred during the 1-year period before the date on which the loan is made by 2.5.

            Maximum Loan Amount = (2.5 X 2019 Average Monthly Payroll)

  • For seasonal employers, the maximum loan is calculated by multiplying 2.5 by the average total monthly payments for payroll during (i) the 12-week period beginning February 15, 2019 or (ii) at the election of the employer, March 1, 2019 through June 30, 2019.
  • Government guarantee of 7(a) loans made under the CARES Act would be increased to 100%, virtually eliminating the credit risk for participating banks.
  • Allows businesses in the accommodation and food service industries with more than 500 employees in the aggregate but that employs no more than 500 employees in one physical location to be eligible, subject to certain gross annual receipts thresholds.
  • Specifies allowable uses of the loan to include payroll support, including paid sick, medical, or family leave, and costs related to the continuation of group health care benefits during those periods of leave; employee salaries, wages, commission or similar compensation; mortgage payments; rent (including rent under a lease agreement); utilities; and interest on any other debt obligations that were incurred before February 15, 2020.
  • “Credit elsewhere” test, as well as personal guaranty and collateral requirements are waived.
  • All loan payments are deferred for at least six months and up to one year.
  • Waives borrower and lender fees and any prepayment penalty.
  • Waives affiliation rules for certain business in the hospitality, food services and designated franchise industries.
  • Eligible borrowers are required to make a good faith certification that they have been affected by COVID-19 and will use funds to retain workers and maintain payroll and other debt obligations and are not receiving duplicative funds for the same uses from another SBA program, as the CARES Act provides a limitation on a borrower receiving 7(a) loan assistance and an Economic Injury Disaster Loan through SBA for the same purpose.

Loan Forgiveness

Borrowers are eligible for loan forgiveness equal to the amount spent by the borrower during an eight-week period after the origination date of the loan on the following items: payroll costs; interest payment on any mortgage incurred prior to February 15, 2020; payment of rent on any lease in force prior to February 15, 2020; and payment on any utility for which service began before February 15, 2020.
Additional key specifics related to loan forgiveness include, among other things, the following:

  • Amounts forgiven may not exceed the principal amount of the loan. Eligible payroll costs do not include compensation to any employee above $100,000 in wages.
  • Amounts forgiven will be reduced proportionally by any reduction in employees retained during the eight-week period after the date of the loan as compared to either (i) the period from February 15, 2019 to June 30, 2019 or (ii) the period from January 1, 2020 to February 29, 2020.  The borrower can elect the period of time used for the analysis.
  • Amounts forgiven will also be reduced by the reduction in pay of any employee beyond twenty-five percent (25%) of their compensation for the most recent full quarter during which the employee was employed.
  • Borrowers that re-hire workers previously laid off will not be penalized for having a reduced payroll at the beginning of the period.
  • The remaining loan balance of any portion of a loan that is not forgiven will have a maturity of not more than ten (10) years, and a maximum interest rate of four percent (4%).

For more information please contact info@horizoncommunitybank.com

CARES Act Brief Description. pdf

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