COVID19

Due to a decrease in transmission levels of COVID-19 in our area and in accordance with CDC guidelines, we are no longer requiring customers to wear a mask when visiting our offices as of February 28. We will continue to monitor guidelines as they are updated and make changes as necessary. Thank you for your continued support.

It’s a good idea to review your credit report at least annually. Doing so can help you pick up on and resolve any inaccuracies, errors or other issues, such as identity theft, sooner. Monitoring your credit during uncertain times, like the COVID-19 pandemic, can also give you peace of mind about your financial health. That’s why the three national credit reporting agencies have extended access to free weekly reports through April 20, 2022. To access your free reports, visit www.annualcreditreport.com. To learn more about protecting your financial health, visit our online education hub at education.mvsb.com.

The SBA (Small Business Administration) has announced the COVID EIDL (COVID-19 Economic Injury Disaster) Program loan, a low-interest, fixed-rate, long-term loan, intended to help eligible small business applicants overcome any negative financial effects brought on by the pandemic. The COVID EIDL Program loan, developed and managed entirely by the SBA, provides working capital to eligible small businesses for operating expenses. Unlike the PPP (Paycheck Protection Program) loan, the COVID EIDL Program loan is not forgivable and must be repaid. The maximum loan amount for eligible applicants is determined by a formula based on the business type and the date that […]

Our PPP business customers may have heard that the SBA is now accepting direct Forgiveness Applications from PPP borrowers. However, following our review of the SBA direct forgiveness program we have determined the platform and process we are currently using is less complex than the direct forgiveness program and so we will not be using the direct SBA option. We believe it’s important to continue to provide our borrowers with support during the PPP forgiveness process. We will continue to submit your forgiveness applications through our existing platform the same as we have been doing. Please be assured that we […]

Grafton Regional Development Corporation (GRDC) and three partner regional economic development corporations (Belknap EDC, Coos Economic Development Corporation and Wentworth Economic Development Corporation) have received more than $200,000 in CARES Act grant funding for small businesses that have been negatively impacted by the COVID pandemic. This Community Development Block Grant – CARES Act Funds Program is being administered by the Community Development Finance Authority (CDFA) to low-to-moderate-income (LMI) microenterprises and start-ups to offset costs associated with preparing for, responding to, or recovering from COVID-19. Qualifying LMI businesses may receive up to $2,500 in direct grant funding to be applied toward […]

If you are a renter struggling to pay rent or a landlord having trouble keeping up with other bills due to the pandemic, you may qualify for assistance. NH Emergency Rental Assistance and Rockingham County Emergency Rental Assistance Programs are working locally to distribute federal rental assistance in our communities to keep local individuals and families stay in their homes.  You can learn more about these programs or apply using the links below:NH Emergency Rental Assistance Program can help throughout the state.  Apply for assistance at https://www.nhhfa.org/emergency-rental-assistance Rockingham County Emergency Rental Assistance Program can help in Rockingham County.  Apply for […]

As of Tuesday, May 4, the SBA announced that the funding for the Paycheck Protection Program Extension Act had been exhausted, and the PPP application portal will stop accepting applications for loans. Regrettably, we are unable to take any new PPP applications at this time. The SBA will not accept applications in progress or waiting for underwriting approval, and we will be contacting those businesses directly affected individually. We will hold the in-progress applications until the end of May if the situation changes and the SBA re-opens the program.  If that should occur, we will notify applicants who had applications […]

We want to be sure you are aware of the new Small Business Administration (SBA) Restaurant Revitalization Fund (RRF). The RRF is essentially a grant and not a loan. The program is being run directly through the SBA. While the bank is not involved in the process, we want to be sure you were aware of this opportunity. Eligible entities who have experienced pandemic-related revenue loss include:Bakeries (onsite sales to the public comprise at least 33% of gross receipts) Bars, saloons, lounges, taverns Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts) Brewpubs, tasting […]

The US Treasury has begun to deliver the third round of Economic Impact Payments (EIP) to eligible Americans. For most recipients, no action is necessary to receive your payment, it will automatically be deposited into the account you normal receive your tax refund to. The IRS will also be issuing payments via paper checks and prepaid debit cards to certain recipients. You can find out when and how your Economic Impact Payment was sent using the IRS Get My Payment tool. For more information on EIP Economic Income Payments and eligibility requirements, visit www.irs.gov.