Business Customer Financial Assistance Programs

Mars Bank is working with business customers who are impacted financially by the COVID-19 pandemic. To learn about assistance for consumers click here

Available Business Customer Assistance Programs

Mars Bank Commercial and Small Business Assistance
  • Loan assistance with no credit bureau impact:
    • Interest-only payment options

    • Payment deferral options

  • Temporary suspension of late fees; fees may be waived or refunded upon request for customers facing financial hardship during the assistance period
  • Emergency loans for working capital necessary to sustain business during this crisis (subject to credit approval)

Please contact your commercial banking officer or 724-625-1555 ext. 250 to discuss your situation.


Federal Programs

Paycheck Protection Program

Mars Bank will participate in the next round of PPP lending. The SBA will soon finalize guidance regarding the process and reopen the loan portal for submitting applications. At that time, we will begin accepting applications for approval and submission to the SBA.

January 11, 2021 Update Regarding Paycheck Protection Program – SBA Portal Open for Mars Bank on January 15

Mars Bank is accepting first and second draw PPP loan applications for processing and will begin submitting applications to the SBA on January 15, 2021. Applications will be processed and submitted for approval through the SBA portal in the order they are received. 

To submit a PPP loan application, fill out the application from the SBA website (link to first and second draw applications below) and submit it by:

  1. Emailing a PDF of the completed application directly to your commercial banking officer or banking center manager. Call us at 724-625-1500 x250 for email information.
  2. Scheduling an appointment at a banking center to submit a printed application and supporting documents.

We encourage you to fully review the guidelines, application forms for first and second draw loans, and FAQs available on the SBA website by clicking here.

Download the updated PPP first draw loan application here. 

Download the new PPP second draw loan application here. 

The SBA and Treasury Department announced there are sufficient funds available to meet the demand and that due to additional compliance review of the loan applications by the SBA, the process may take longer than the first round of PPP loan processing.

Please visit this page or our business assistance page to stay up-to-date. Please contact your Commercial Banking Relationship Manager or call us at 724-625-1555 x250 with any questions regarding the program.

January 7, 2021 Update Regarding Paycheck Protection Program – SBA Interim Rules for PPP Relaunch

The Small Business Administration (SBA) released interim final rules regarding the pending relaunch of the Paycheck Protection Program (PPP). However, the SBA did not announce the date on which it will reopen its portal for applications for this $284 billion round of funding. A link to the information released on the SBA website is below.

The SBA is including rules that provide specific provisions for small businesses and community banks such as Mars Bank. The SBA will:

  • accept PPP loan applications only from community financial institutions for at least the first two days when the PPP loan portal re-opens,
  • provide $15 billion across first and second draw PPP loans for lending by community financial institutions,
  • provide $35 billion for new first draw PPP borrowers, and
  • provide $15 billion and $25 billion for first draw and second draw PPP loans, respectively, for borrowers with a maximum of 10 employees or for loans less than $250,000 to borrowers in low-or moderate-income neighborhoods. The SBA has determined that at least 25 percent of each of those set-asides will go to each one of the groups: loans to borrowers with a maximum of 10 employees and loans less than $250,000 to borrowers in low-or moderate-income neighborhoods.

The program will run through March 31, 2021 or until the new funding is exhausted.

‌Information for Second Draw Borrowers

The eligibility requirements for a “second draw” PPP loan (PPP2) based on current SBA guidance are as follows. The borrower must:

  • spend the full amount of the first PPP loan before receiving the PPP2 loan,
  • employ no more than 300 employees per physical location,
  • demonstrate a 25% or more reduction in gross receipts in any quarter during calendar year 2020 as compared to the same 2019 quarter.

At this time the application and final rules for PPP2 are not yet available on the SBA website. Borrowers considering a PPP2 loan are encouraged to review the program requirements and borrower information fully before applying for a “second draw” loan. We will be providing links to the application, instructions and FAQ’s when they are available.

Read the guidance on PPP loan access released on January 6, 2021 on the SBA website.   

Mars Bank is currently reviewing the legislation and will update our website once the new guidance is finalized. Please visit this page or our business assistance page to stay up-to-date. Please contact your Commercial Banking Relationship Manager or call us at 724-625-1555 x250 with any questions regarding the program.

December 1, 2020 Update Regarding Paycheck Protection Program

A federal court ordered the Small Business Administration (SBA) to release the names, addresses and precise loan amounts for all Paycheck Protection Program (PPP) loan recipients and all COVID-19-related Economic Injury Disaster Loan (EIDL) recipients. The court found that the SBA’s claimed exemptions from the Freedom of Information Act do not cover the PPP data sought by major news organizations. The SBA did not appeal the ruling and publicly and is expected to release this information on December 1. The banks that issued PPP loans played no role in the decision to release this information.

For more information regarding your PPP loan, contact your commercial banking officer or 724-625-1555 ext. 250 to discuss your situation.

October 20, 2020 Update Regarding Paycheck Protection Program Forgiveness

Mars Bank is accepting forgiveness applications for Paycheck Protection Program loans completed through the closing of the program on August 8, 2020. Information regarding forgiveness is available at the SBA website, including instructions and application for all PPP loans.

Simplified Application for Loans of $50,000 or Less Added to SBA Website

The Small Business Administration (SBA) released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process and provides financial and administrative relief to businesses. The portal for submitting the simplified application is open and Mars Bank is submitting applications for forgiveness.

Click here to view and download the simpler loan forgiveness application (Form 3508S).

Click here to view and download instructions for completing the simpler loan forgiveness application (Form 3508S).

Click here to view and download the PPP Forgiveness FAQ from the SBA.

Please contact your Commercial Banking Officer with any questions regarding PPP loan forgiveness  or call 724-625-1555 x250.

 

Economic Injury Disaster Loans and Loan Advance

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. Companies may apply directly through the SBA  by clicking here.


State Program Assistance

The Commonwealth of Pennsylvania has developed a program to help small businesses with fewer than 100 employees.  It will be administered by the Pennsylvania Industrial Development Authority (PIDA).  It provides working capital financing to small businesses located within the Commonwealth that are adversely impacted by COVID-19.  The program offers loans at a maximum of $100,000 to qualified businesses.  Loan terms are three years with a 12-year amortization with no payments due during the first year.  See https://dced.pa.gov/programs/covid-19-working-capital-access-program-cwca/ for more details surrounding the program and related guidelines.  To apply for the grants, businesses must contact a local certified economic development organization.  See https://dced.pa.gov/CEDO/ for a listing of certified organizations near you.

Please contact your commercial banking officer or call 724-625-1555 ext. 250 to discuss your situation.

To learn about assistance for consumers click here


Butler County Small Business COVID-19 Grant Program

This program is now closed.

The Butler County Growth Collaborative announced that Butler County is accepting U.S. CARES (Coronavirus Aid, Relief, and Economic Security) grant applications from nonprofit organizations and small businesses to alleviate the financial impacts from the novel coronavirus (COVID-19) pandemic. Butler County has allocated $1 million to assist small businesses. The application period for the Butler County Small Business Grant Program opens 8 a.m. Monday, September 14, and ends 5 p.m. Friday, September 25. The maximum amount of grant funding is $25,000.

Among the eligible use of funds are payroll costs, continuation of group healthcare benefits, rent, utility payments, working capital covering reopening costs and expenses related to implementing measures in response to COVID-19.

Businesses and nonprofit organizations that already received monies from the Paycheck Protection Program (PPP), Small Business Administration (SBA) loans and Economic Injury Disaster Loan (EIDL) are not eligible for this funding.

Applications and guidelines are available at the Butler County website.