If you are an existing Merrimack County Savings Bank customer, click here
If you are not an existing Merrimack County Savings Bank customer, click here
If you are an existing Merrimack County Savings Bank business loan customer, click here
If you are not an existing Merrimack County Savings Bank business loan customer, click here
If you are an existing Merrimack County Savings Bank business loan customer, please contact your business lender at your earliest convenience.
Due to the high volume activity, we are able only to accept refinance applications from our existing business loan customers. It is important to us that we provide the highest level of service to you and we hope to be able to provide non-customer refinances in the near future.
Rosemary M. Heard, President, CATCH Neighborhood Housing; Randy Guay, Vice President, Commercial Loan Officer, Merrimack County Savings Bank
We’re there for your business when – and where – you need us.
Every business needs a ready supply of capital to succeed. Whether you need money to fund a start-up, expand an existing business, upgrade equipment or property, increase inventory, or simply continue operations during seasonal slowdowns, Merrimack County Savings Bank has options that work for you.
Our Business Team will work closely with you to find solutions to suit your venture. We understand business. We also understand the challenges and rewards of doing business in New Hampshire.
Call us, and we’ll come to you to discuss the options that best suit your needs including:
- Standard business loans such as term, installment and construction loans
- Commercial real estate loans, including affordable housing financial packages
- Business lines of credit and letters of credit
- Time notes
- Credit enhancement programs, such as Small Business Administration and Business Finance Authority Loans
When you choose to partner with Merrimack County Savings Bank, you get our undivided attention. Together, we can decide what lending program might work best for you.
ezbusiness Loan
Looking to expand your business? Need cash for a new company vehicle? High speed, high performance computers for the office? At the Merrimack, we understand that regardless of what you need financing for, you probably need it sooner, rather than later.
With an ezbusiness Loan from the Merrimack, your business will have access to the funds it needs in no time! Enjoy a simplified application process, along with these other benefits:
- Expedited process for approval and closing
- ezbusiness Cash Reserve – overdraft line of credit up to $5,000
- ezbusiness Term Loan- term loans from $5,000 to $100,000
- ezbusiness Lines of Credit- revolving lines of credit from $5,000 to $100,000
Just starting a business?
If you’re thinking about starting a business, let’s discuss your plan and funding needs. First, however, you should get some items ready. Visit the links below before we begin exploring business loans for guidelines on how to write a clear and concise business plan.
Commercial Loan Meeting Checklist
How to Write a Business Plan
Effective May 11, 2018, new rules under the Bank Secrecy Act require financial institutions to collect identifying information for the following individuals EACH time an account is opened for certain business customers:
- Each individual that has 25 percent or more of the equity interest in the business; and
- One individual that has the authority to exercise control of the legal entity, such as a CEO, executive officer or treasurer.
If you are opening an account on behalf of a business, you may be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge. Click here for more information or for a copy of our Beneficial Owner Certification Form.
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We are proud to have brought $84 million in funding to our community during the last Paycheck Protection Program (PPP) round, and we’re getting ready to accept applications for the Small Business Administration’s (SBA’s) next round. The SBA is expected to launch the new PPP for banks our size on Tuesday, January 19th.
Our efforts are currently focused on putting the finishing touches on our new PPP Loan portal that will allow existing Merrimack County Savings Bank commercial customers to:
- Apply for a First Draw PPP loan,
- Apply for a Second Draw PPP loan, or
- Complete their forgiveness application for draw one or draw two loans.
Unfortunately Merrimack County Savings Bank will not be accepting PPP Loan Applications from non-established customers as our resources are focused on serving existing customer needs.
We are testing our PPP Loan portal now and hope to have it available on or shortly after January 19th. We will send email notifications and post an update on our website about how you can get started once our portal goes live.
In the meantime, what should you be doing?
Please look at the new application forms, and read their instructions carefully.
- Visit the SBA website and select the program you are looking for.
- Click learn more under the program you are interested in, and look for the application link.
- Once you download the application form, review the data requirements, and most importantly, the documentation requirements. When you input your application into our portal, you will need these numbers and complete documentation uploaded before your application can be submitted to the SBA.
SBA will be reviewing applications submitted prior to funding, so you can expect funding to take longer than it did with round one. The length of time it will take remains to be seen.
Resources
First Draw PPP Loans are for those borrowers who have not received a PPP Loan before August 8, 2020. The first round of the PPP, which ran from March to August 2020, was a historic success helping 5.2 million small businesses keep 51 million American workers employed.
Second Draw PPP Loans are for eligible small businesses with 300 employees or less, that previously received a First Draw PPP Loan, and will use, or have used, the full amount only for authorized uses that can demonstrate at least a 25% reduction in gross receipts during at least one quarter in 2019 when compared with the same quarter in 2020. The maximum amount of a Second Draw PPP Loan is $2 million.
Updated PPP Lender forms, guidance, and resources are available at sba.gov/ppp and also at treasury.gov/cares. Please see below for recent relevant resources:
We encourage you to take your time to understand this round of the PPP loan program, as it is a good opportunity for financial assistance during this challenging time.
Please direct any questions to [javascript protected email address].
Due to the high volume activity, we are able only to accept Payment Protection Program applications from our existing customers. It is important to us that we provide the highest level of service to you and we hope to be able to provide non-customer PPP applications in the near future.
