Community Bank & Trust Launches Refund Anticipation Loan for SLFL Tax Credit, Providing Immediate Relief for Self-Employed Workers

LAGRANGE, Ga., Feb. 26, 2025 /PRNewswire/ -- Community Bank & Trust, a trusted financial institution and one of the nation's fastest-growing banks committed to serving small business owners and self-employed individuals, announces the launch of its Refund Anticipation Loan for the Sick Leave and Family Leave (SLFL) tax credit, sometimes known as the Self-Employed Tax Credit (SETC).

This new financial solution allows eligible self-employed individuals to receive their tax refund immediately, rather than waiting for the IRS to process their claim. Community Bank & Trust is working with approved processors to facilitate this seamless, risk-free advance, ensuring gig workers, independent contractors, sole proprietors, and other small business owners can access the tax relief they are entitled to without delay.

Immediate Access to Funds – No Upfront Cost, No Credit Check

The SLFL program was created by the federal government under the Families First Coronavirus Response Act (FFCRA) to provide financial relief for self-employed individuals who were unable to work due to COVID-related reasons. This tax credit is one of the last remaining programs from the pandemic era. Community Bank & Trust's Refund Anticipation Loan eliminates the long wait times associated with IRS processing by offering a refund anticipation loan with zero out-of-pocket costs for the applicant.

Key benefits of the SLFL Refund Anticipation Loan include:

• Instant Access to Funds – Applicants receive their proceeds immediately, rather than waiting months for the IRS.
• No Credit Check or Personal Guarantee – Approval is based solely on eligibility for the SLFL tax credit.
• Zero Upfront Cost to the Applicant – The tax preparation processing fee is paid for by the bank out of the loan proceeds, allowing self-employed individuals to receive their tax refund in advance.
• Secure and Compliant – Backed by Community Bank & Trust, a federally regulated financial institution, ensuring full compliance with IRS and banking regulations.

Legitimacy of the SLFL Program – A Federal Tax Credit Recognized by the IRS

The SLFL (SETC) tax credit is a federally legislated benefit designed to provide financial relief for self-employed individuals who lost work due to COVID-related reasons. Unlike other tax credit programs, the SLFL tax credit is claimed directly on IRS Form 7202, an official tax document issued by the IRS. Community Bank & Trust has conducted extensive due diligence to ensure all applications are fully compliant and IRS-ready, providing a safe and legitimate path for applicants to claim their entitled refund.

"Empowering the Self-Employed"

"Self-employed individuals are the backbone of the American economy, yet they often lack access to the financial support available to traditional employees," said Steve Jeffries, President of Community Bank & Trust. "By offering a refund anticipation loan on the SLFL tax credit, we are giving self-employed individuals the financial flexibility they need without having to wait on extended government processing times."

How to Apply

Eligible self-employed individuals can apply for the SLFL refund anticipation loan through an approved processor working with Community Bank & Trust. The process is fully online, fast, and secure, ensuring applicants receive their funds as quickly as possible.

For more information on the SLFL Refund Anticipation Loan, visit: https://www.federalregister.gov/documents/2020/04/06/2020-07237/paid-leave-under-the-families-first-coronavirus-response-acts

https://www.irs.gov/newsroom/tax-credits-for-paid-leave-under-the-american-rescue-plan-act-of-2021-specific-provisions-related-to-self-employed-individuals

About Community Bank & Trust

Community Bank & Trust is a full-service financial institution committed to supporting small businesses, entrepreneurs, and independent workers with innovative financial solutions. With a strong history of community engagement and regulatory compliance, Community Bank & Trust provides secure and transparent banking services tailored to the evolving needs of businesses and self-employed individuals.

SOURCE Community Bankshares, Inc.