Learn about our Relief Programs for Businesses below.
MountainOne’s COVID-19 Commercial Loan Payment Deferral Program
COVID-19 is a global crisis that has an economic impact across every industry. We understand these are unprecedented times, and are here to support you as you explore your options for financial relief. Please contact your MountainOne lender directly to discuss your financial needs.
Learn about other COVID-19 Funding Programs available through the SBA
Our nation's small businesses are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) outbreak. On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses.
Click here to read a summary of the CARES Act.
In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak.
Economic Injury Disaster Loan (EIDL) Advance
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. You can learn more or apply via the Small Business Association website.
SBA Express Bridge Loans
This loan enables small businesses that currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
Additional SBA Debt Relief & Payment Deferments
As part of SBA's debt relief efforts, the SBA will automatically pay the principal, interest, and fees of 7(a), 504, and microloans issued prior to September 27, 2020 for a period of six months.
For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020.
We know these are stressful times and the myriad relief options and requirements can be confusing. We are here to help! Please contact your MountainOne lender directly with any questions, or call us at 855-444-6861 Monday – Friday from 8am-6pm or Saturday from 9am-12pm.