New Alert: For the continued health of our customers, employees and community, our lobbies are open by appointment only. Drive-ups remain open regular hours, and online, telephone and mobile banking are available 24×7. Please call 603.279.7986 to schedule an appointment.

Photo by Bob Ness

Lending

Thank you for your interest in a business loan at MVSB.

To apply for a Paycheck Protection Program SBA Loan, click here

To refinance an existing MVSB business loan, click here

To learn more about our traditional business loan options, click here

Allan Beetle (right), owner of Patrick’s Pub, meets with Brian Chalmers of the business banking team at Meredith Village Savings Bank.

We’re there for your business when – and where – you need us.

Every business needs a ready supply of capital to succeed. Whether you need money to fund a start-up, expand an existing business, upgrade equipment or property, increase inventory, or simply continue operations during seasonal slowdowns, Meredith Village Savings Bank has options that work for you.

Our Business Team will work closely with you to find solutions to suit your venture. We understand business. We also understand the challenges and rewards of doing business in New Hampshire.

Call us, and we’ll come to you to discuss the options that best suit your needs including:

Standard business loans such as term, installment and construction loans
Commercial real estate loans, including affordable housing financial packages
Business lines of credit and letters of credit
Time notes
Credit enhancement programs, such as Small Business Administration and Business Finance Authority Loans

When you choose to partner with Meredith Village Savings Bank, you get our undivided attention. Together, we can decide what lending program might work best for you.

ezbusiness Loan

Looking to expand your business? Need cash for a new company vehicle? High-speed, high-performance computers for the office? At MVSB, we understand that regardless of what you need financing for, you probably need it sooner, rather than later.

With an ezbusiness Loan from MVSB, your business will have access to the funds it needs in no time! Enjoy a simplified application process, along with these other benefits:

Expedited process for approval and closing
ezbusiness Term Loan- term loans from $5,000 to $100,000
ezbusiness Lines of Credit- revolving lines of credit from $5,000 to $100,000

Business Credit Card

Through our partnership with FirstBankcard, a division of First National Bank of Omaha, we offer a variety of business credit cards to meet your needs. Separate your business and personal expenses while you enjoy:

Free 24/7 online access for managing your account. Your Authorized Company Representative can view transaction activity and history, pay your bill, set up your alerts and more.
Free management reports to help you track expenses, monitor your spending, spot tax deductions, prepare your tax filings and forecast expenses more easily.
Cash flow management with the flexibility to cover the cost of supplies, equipment, travel and more.

Learn more or apply now to enjoy this wide range of benefits.

Learn More or Apply Now

Just starting a business?

If you’re thinking about starting a business, let’s discuss your plan and funding needs. First, however, you should get some items ready. Visit the links below before we begin exploring business loans for guidelines on how to write a clear and concise business plan.

Commercial Loan Meeting Checklist
How to Write a Business Plan

Effective May 11, 2018, new rules under the Bank Secrecy Act require financial institutions to collect identifying information for the following individuals EACH time an account is opened for certain business customers:

Each individual that has 25 percent or more of the equity interest in the business; and
One individual that has the authority to exercise control of the legal entity, such as a CEO, executive officer or treasurer.

If you are opening an account on behalf of a business, you may be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge. Click here for more information or for a copy of our Beneficial Owner Certification Form.

We are very pleased to let you know that we can start accepting applications for new First Draw and Second Draw PPP Loans, beginning Tuesday, January 19, 2021. We encourage all eligible MVSB business customers to apply. SBA and Treasury officials have offered assurances that there are sufficient funds to meet expected demand, so please take the time to fully complete and document your application before submitting.

Will your business or organization be eligible to apply?

You may be eligible regardless of whether or not you received a PPP loan in 2020. Please note there are differences between the two types of PPP loans:

Eligibility requirements which apply to both First Draw PPP Loans and Second Draw PPP Loans (“Second Draw” meaning you previously received PPP funding):
- You plan to maintain employee and compensation levels.
- Loan proceeds are to be spent on payroll costs (at least 60%) and other eligible expenses over an 8-24 week period.
- Any business, independent contractor, eligible self-employed individual, sole proprietor or eligible non-profit organization that is an MVSB customer may apply for a PPP Loan.
- Borrowers must be in good standing with the Secretary of State.
- You must certify that “Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant”.
Unique requirements for First Draw PPP Loans:
- Loans are for those borrowers who have not received a PPP loan before August 8, 2020.
- Your business must have 500 or fewer employees.
- Your business must have been in operation on February 15, 2020 and must not have closed permanently.
Unique requirements for Second Draw PPP Loans:
- Your business must have 300 or fewer employees.
- Your business previously received a First Draw PPP Loan and have used the full amount for authorized uses prior to taking the Second Draw.
- Your business must have experienced a reduction in Gross Receipts of at least 25% in one quarter of 2020 as compared to the same quarter in 2019.

Preparing for your PPP application

If you believe you will be eligible for this new round of PPP funding, now is the time to pull together required documents and supporting information.

You will need to provide payroll documentation to support your application, for either 2019 or 2020, depending on which year you choose for your payroll calculation:

IRS Form 941 quarterly tax returns for all 4 quarters and State quarterly wage unemployment insurance tax reporting forms; or equivalent payroll processor records, along with evidence of any retirement and employee group health, life, disability, vision and dental insurance contributions included in the payroll calculation.
A payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided to establish the applicant was in operation as of February 15, 2020.
Include evidence of any individual payroll earnings in excess of $100,000 per employee.

If you are self-employed and want to include owner profit or draw as part of your payroll cost calculation, you will need to provide 2019 or 2020 business income tax schedules, depending on which tax year you select for the payroll calculation. Submit one of the following based on your business type:

Schedule C for sole proprietors or single member LLCs.
Form 1065 for partnerships, with accompanying K-1 statements.
Form 1120-S for Subchapter S corporations, with accompanying K-1 statements.

If you are applying for a Second Draw PPP Loan, you will also need to provide documentation to verify your business experienced a 25% or more decline in gross revenues in 2020 relative to 2019. You will need to provide one of the following:

A 2019 quarterly profit and loss statement and a 2020 quarterly profit and loss statement for the same quarter, which demonstrates a 25% or more decline in gross revenues.
If your business does not prepare quarterly revenue information, you can provide a 2019 business tax return and a 2020 business tax return (a draft return will be acceptable for 2020), which demonstrates a 25% or more decline in gross revenues for the full year.
If the financial statements submitted to support your revenue reduction are not Audited, please sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy.

Now that you are ready…it’s time to apply!

If you are a current MVSB PPP borrower, an application link will be emailed to you directly. If you do not receive the application link from us, or you are a MVSB commercial customer applying for a First Draw PPP loan, you can access the application link on the webpage, on or after January 19, 2021.
Carefully read all of the instructions in the MVSB electronic application. The bank cannot process your application until it is complete. The application will not be considered complete until the signed and certified application form is submitted and all required documentation is uploaded. It is important that you provide all of the application materials to the bank so that processing does not get delayed.
We expect to receive a large volume of applications so it may take a few days until we can get back to you to confirm processing of your application. Someone will review it prior to reaching out to you to ensure that it is complete. Again, it is very important that we have a completed application with all of the backup information to prevent unnecessary delays.
Please note, all PPP applications must be submitted through MVSB’s electronic portal. Paper applications will not be accepted.

If you have any questions about this process, please email us at [javascript protected email address] or contact your Commercial Loan Officer for assistance.

Other Resources:
SBA Interim Final Rule – dated January 6, 2021

Thank you for your continued business. We look forward to helping you obtain your PPP Loan.