COVID-19 Resources for Business Owners​

Information Current as of August 14, 2020

Please continue to monitor this page as this is where we will update any information.

We are no longer accepting PPP application requests
We are currently working on processing and verifying the requests we have in our queue. Our website will be updated if the program is further extended or an additional round of funding occurs.
PPP Forgiveness

The SBA and Treasury have released two (2) new applications for PPP loan forgiveness. Please go to the Treasury website to review both applications and their corresponding instructions. The EZ application instructions provide a checklist to assist you in determining the appropriate application to use.

On June 5th, the President signed the Paycheck Protection Program Flexibility Act (“PPPFA”) which resulted in significant changes to several key PPP loan provisions. Some of these changes include, but are not limited to:

  1. An option to select an 8-week or 24-week “covered period” when applying for forgiveness.
  2. Requirements regarding forgiveness of PPP loans to reduce, from 75 percent to 60 percent, the portion of PPP loan proceeds that must be used for payroll costs for the full amount of the PPP loan to be eligible for forgiveness.
  3. Extended the deferral period for PPP loans to the date that SBA remits the forgiveness amount to the lender.

We highly recommend that you review all of the recent changes on the Treasury website as it is your responsibility to determine your eligibility.

Salisbury Bank’s Forgiveness Process
  • We are pleased to report that our software solution for processing PPP loan forgiveness is up and running. We will be sending out secure emails with instructions on how to begin the forgiveness application process. Please note that we will be sending out the emails in the order in which the loans were funded.
  • You are encouraged to read the forgiveness application instructions and rules at https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses
  • The SBA has indicated that they will begin accepting forgiveness applications on August 10th, however they have noted that any changes to the program could potentially push back that date. Once your forgiveness application is complete, and has been reviewed, it will be placed in our queue for submission to the SBA.
Contact Us

We are no longer accepting PPP application requests.
If you have questions about your PPP loan or the forgiveness process, please contact us using the form below: 

  • This field is for validation purposes and should be left unchanged.

Additional Resources

Other programs currently offered directly through the SBA, but not facilitated by Salisbury Bank or other financial institutions/banks.

SBA Economic Injury Disaster Loan (EIDL) Up to $2 million – you can apply for this loan at www.sba.gov. 

For businesses domiciled in Connecticut please visit this link to learn about additional resources available to you at the State level:  https://portal.ct.gov/Coronavirus/Information-For/Business-Resources
For businesses domiciled in Massachusetts please visit this link to learn about additional resources available to you at the State level:  https://www.mass.gov/info-details/covid-19-resources-and-guidance-for-businesses
For businesses domiciled in New York please visit this link to learn about additional resources available to you at the State level. http://www.nyssbdc.org/CoronaSBupdates.html
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