SBA Loan Assistance

Small Business "Paycheck Protection Program"

We have a special page dedicated to the Small Business Association (SBA) Paycheck Protection Program. Here you will find detailed information about the program.

SBA Disaster Loan Assistance

The SBA has established a disaster loan assistance program to assist businesses affected by the pandemic. This is a direct loan program offered by the SBA. Borrowers apply online on the SBA website.
We strongly recommend applying on-line and not using the optional paper applications as the SBA warns that paper applications will result in extended processing times.
  • Low fixed interest rates for up to 30 years
  • Loans up to $25,000 do not require collateral
  • Funds to be used for payroll and short term cash needs
  • Will need to demonstrate year-over-year change in revenues / lost income (at least one month)
  • Turnaround time after receipt of a complete on-line application is estimated to be 14-days. Paper applications will take considerably longer to process.
  • The entire state of Massachusetts has been declared a disaster area.

SBA Express Bridge Pilot Loan

The SBA established this alternative program to assist small businesses affected by the pandemic. Borrowers apply for this loan through Martha's Vineyard Bank, an approved SBA Express lender. Please contact a loan officer if you are interested in this loan.
  • Must have an existing banking relationship with Martha's Vineyard Bank
  • Loan amounts up to $25,000
  • Collateral is not required
  • Repayment up to 7 years (lines of credit are not being offered)
  • Funds to be used for payroll and short term cash needs
  • Will need to demonstrate year-over-year change in revenues / lost income (at least one month)

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