Machias Savings Bank

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We’re Still Here to Help.

Machias Savings Bank can no longer offer PPP loans. On May 4th, the Small Business Administration notified us that all funds have been exhausted and the portal is no longer accepting applications from banks like ours. However, we know your business still has funding needs to stay in operation, and in some cases, to grow even stronger.

Below are 4 ways we can help find your YES and grow your business.

1) Tax Credits/ Refunds are another way to maximize your funding options.  

The Employee Retention Credit

The Employee Retention Credit is a fully refundable tax credit. It’s available to companies who have partially or fully suspended their operations due to COVID-19 or have had a significant decline in gross receipts. The program has been designed to encourage employers to keep employees on their payroll. Please review the full tax credit details here.

2) Direct Government Loans are available.

  • SBA Economic Injury Loan
    • The Economic Injury Loan provides assistance to small business owners, including agricultural businesses, and nonprofit organizations that are experiencing a temporary loss of revenue due to COVID-19.  If you are interested in applying for a COVID-19 Economic Injury Disaster Loan, please review the latest program enhancements and full program details here.
  • SBA Micro Lenders
  • Finance

 Finance Authority of Maine

3) Of course, banks are still in the business of lending.

4) Last but not least, other organizations are here to help. We can help connect you.

  • Economic Development Organizations - Revolving Loan Fund
  • City/Town Regional Funds
  • Non Profit Opportunities
  • New Maine Jobs & Economic Recovery Plan
    • Department of Agriculture, Conservation and Forestry
    • Maine Technology Institute
    • Department of Marine Resources

OUR FOCUS

As a customer of Machias Savings Bank, the focus is on you. We will enhance your banking relationship by working with you to discover your banking needs. We will be there when you need us.

 

© Machias Savings Bank. All rights reserved.

Member FDIC. Equal Housing Lender logo Equal Housing Lender.
Routing Number: 211274531
Wire Instructions for Customers
NMLS Number: 469539

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