Commercial / Business Financial Assistance
Paycheck Protection Program
NOTICE: Congress is working on a new spending bill to provide an additional $310 billion in funding to the SBA Paycheck Protection Program, under the Cares Act. We anticipate, if approved, application demand will be extraordinarily high. In preparation for the approval of this spending bill, we are accepting new applications.
PLEASE BE ADVISED: THESE NEW APPLICATIONS WILL ONLY BE PROCESSED IN THE EVENT THE SBA-PPP RECEIVES ADDITIONAL FUNDS. While we are committed to processing as many applications as possible, we cannot guarantee you access to funding.
What you need to know before you apply:
As an applicant, you are making specific certifications about the impact of the current economic crisis on your business and its operating status, your intended use of proceeds (should you receive funding), your intention to retain or rehire workers, and other factual information.
To protect yourself, please read all the eligibility and other important program information prior to submission. You will be required as part of the closing to sign a Borrower Certification to the program requirements.
- NESB will only accept on-line applications using the below links.
- Closing is contingent on funding to an NESB Business DDA in the name of the applicant. If you do not have one you must visit an NESB location to open one.
- Please be sure to use the same Business name identifier and email address for both the support documentation submission and the application.
- Businesses are required to have employees that were paid salaries and payroll taxes during the last 12 months and be able to substantiate their incurred payroll expenses with appropriate documentation.
- Your business must have been in operation on February 15, 2020.
- Additional eligibility requirements will apply.
- We will post Program updates as they develop.
Make sure to read all sections of the application and fully complete them before submitting as we are not able to process incomplete applications.
Click on the Application link below, complete all fields of the application and submit.
Assemble all documents and supporting materials used to develop you loan request including but not limited to payroll processor records, payroll tax filing, tax returns and bank records, and submit these through our secure link below:
Your relationship is extremely important to us and we are here to support you during this unprecedented and stressful time.
Commercial Loan Payment Assistance
North Easton Savings Bank is committed to working with our commercial customers who have been affected by the disruption of the coronavirus event.
Consumer Financial Assistance
Mortgage / Consumer Loan Payment Assistance
North Easton Savings Bank is committed to providing our valued loan customers with effective and meaningful support during the crisis. Individuals that have had an interruption in their income may speak with us about any upcoming payments due. We offer options to those affected including deferring the principal portion of a payment or the ability to skip a payment completely depending on the type of loan.
Please be aware that different payment relief options might be available on your mortgage loan in the event your loan has been sold to an investor and is serviced by North Easton Savings Bank. We are committed to providing the best option for you that will not affect your credit rating.
Consumer Emergency Loan
North Easton Savings Bank understands you may be looking for further financial protection during these uncertain times, and we are committed to providing our customers with options for support. For those who have been financially impacted by COVID-19, we are offering a short term, low-rate, unsecured loan.
Access between $500-$5,000 at 0.00% APR and no payments for 6-months followed by 3.99% APR for 36-months for customers using autopay from a North Easton Savings Bank deposit account (0.00% APR for 6-months and no payments, followed by 4.99% APR for 36-months for customers not using autopay). In the event that the autopay deposit account is closed or there is an insufficient balance in the deposit account to pay a regularly scheduled payment due, the Bank may terminate such autopay authorization and increase the interest rate payable on the outstanding balance of the Note by 1.00% percentage points after sending a notice to the Borrower that such higher rate of interest will be charged. Loan amount and approval will be subject to adequate credit rating, payment history, and other terms and conditions*.
*North Easton Savings Bank Consumer Emergency Loan is available to current customers having a deposit or loan in good standing with North Easton Savings Bank as of 03.01.2020. 4.99% Annual Percentage Rate (APR) applies to an unsecured, fixed-rate term loan with a term up to 36 months. The minimum loan amount is $500 and the maximum loan amount is $5,000. Sample monthly payment for a Consumer Emergency Loan with a balance of $5,000 at 4.99% APR over three (3) years is $149.83. A discounted rate of 3.99% APR may be available for existing customers with an auto pay option. There is no application, origination, or prepayment fee. Late fees and returned payment fees may be charged when applicable. Loans subject to credit review and approval. Offer may be withdrawn at any time. Additional terms and conditions may apply. Other options may be available for those who do not meet this program’s requirements.
The government recently approved the Coronavirus Aid, Relief and Economic Security (CARES) Act, which secures emergency funding to help individuals and businesses. These funds will be distributed through additional unemployment insurance provisions, the Paycheck Protection Program (more information below) and a Recovery Rebate for individual taxpayers. North Easton Savings Bank is working to distribute information about the CARES Act to customers. Click here for more information.