Salisbury Bank – Coronavirus Response

COVID-19 Resources for Business Owners

Information Current as of June 5, 2020

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

The SBA and Treasury have released the PPP Forgiveness Application as well as an Interim Final Rule on Loan Forgiveness.
These documents detail the steps and parameters required to achieve loan forgiveness. We are actively working on our process for the forgiveness application and will provide an update soon. Please do not submit a forgiveness application at this time.

Please remember that it is ultimately your responsibility to understand Loan Forgiveness; go to https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses for the latest guidance and rules. It is recommended that you consult with your tax advisor, legal counsel, or a bookkeeping service to assist your business if necessary.

Additional funds have been allocated into the Paycheck Protection Program (PPP) and the SBA is now accepting applications while funds are available. At this time we are only processing requests for customers and those businesses within our market area.

The Small Business Administration (SBA) continues to clarify several issues around borrower eligibility. The Interim Final Rule for eligibility dated 4/24/2020 can be found here and includes “Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request” found on page 9.

Please remember it is your responsibility to determine your eligibility and loan amount. Our staff is dedicated to processing all requests in our pipeline as expeditiously as they can. The more complete your application is, the more efficient the process will be.

To prepare for the application process please:

Gather the information on this checklist
Review this link for eligibility
For self-employed borrowers review this link for eligibility requirements
(after clicking link please refer to page 4 of the document)

Paycheck Protection Program (PPP) Inquiry Form

Please note that completing this form is a way to begin your request to apply for a PPP loan. Completing this form is not the application for the PPP, and it does not guarantee that your application will be approved.

Your Name (Required)*
First Last
Your Email Address (required)*
Your Phone Number*
Do you have a loan with Salisbury Bank?*
- Yes
- No
Do you have any other accounts with Salisbury Bank?*
- Yes
- No
If you answered "Yes" to the previous question, please describe:
Business Entity Legal Name*
Type of business:*
Date business established:*
Date Format: MM slash DD slash YYYY
Address where the business is domiciled:*
Street Address Address Line 2 City State / Province / Region ZIP / Postal Code
Please indicate who your Commercial Loan Officer is (if applicable):
This form provides us the information needed to start your application. After submitting this form you will receive a confirmation email that we have received your inquiry. Once you receive the confirmation email please look for an additional email in the coming days to start your application.
CAPTCHA

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.

EIDL Emergency Grants Up to $10,000 – these grants are in the form of a $10,000 cash advance through the EIDL program available 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