Coronavirus Resources from Mars Bank
Mars Bank Response to the COVID-19 Impact
As a community bank, Mars Bank is always focused on our neighbors – our customers and all those who call our communities home. We are all feeling the impact of the COVID-19 pandemic. Mars Bank remains open and is balancing the health and wellbeing of our customers and staff while maintaining our customers’ ability to conduct banking tasks. Click the boxes for links to bank resources:
We appreciate the cooperation of our customers and the dedication of our staff during this difficult time. If you have questions regarding the bank’s response to the pandemic, call our customer service helpline at 724-625-1555 ext. 287 between 8:00am – 6:00pm Monday – Friday and 9:00am – 1:00pm Saturday. After business hours email us.
Bank Updates in Response to Pandemic Impact
May 5, 2021
Update: Paycheck Protection Program (PPP) Funds Exhausted
The Small Business Administration announced that Paycheck Protection Program (PPP) funding has been exhausted and that the PPP application portal stopped accepting applications for loans from most lenders on May 4, 2021. Mars Bank will no longer accept PPP applications.
The SBA said that it reserved approximately $6 billion in funding for previously submitted loan applications subject to hold codes that have yet to be resolved. There is also approximately $8 billion remaining in congressionally mandated funding for PPP loans made by designated “community financial institutions,” defined as minority depository institutions and community development financial institutions.
If you have a PPP loan application in process with Mars Bank, please contact your commercial relationship manager or call 724-625-1555 x250 for more information about your loan.
March 31, 2021
Update: Paycheck Protection Program (PPP) Extended through May 31, 2021
The PPP Extension Act was signed into law. It extends the deadline for PPP loan applications to May 31, 2021. The law also provides 30 days past the application deadline for the Small Business Administration (SBA) to process the loan applications.
Mars Bank is participating in the program and will accept first- and second-draw PPP loan applications from current customers through the new deadline. Contact your commercial relationship manager or call 724-625-1555 x250 for more information or to start the application process.
Information about first-draw PPP loans on the SBA website: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program/first-draw-ppp-loan
Information about second-draw PPP loans on the SBA website: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program/second-draw-ppp-loan
March 26, 2021
Update: PPP Loan Forgiveness
Updated information about Paycheck Protection Program (PPP) loan forgiveness is available on our Business Assistance webpage regarding both first and second-draw loan forgiveness. Visit the business assistance page here.
Please contact your relationship manager with any questions or call 724-625-1555×250.