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COVID-19 Business Resources

2021 Paycheck Protection Program Update:

Walden Savings Bank understands the many challenges our business community has faced during these unprecedented times. We are pleased to provide our business customers with access to needed funds through the second round of the Paycheck Protection Program (PPP).  

 

 

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Paycheck Protection Program 

We are pleased to offer our customers access to the Paycheck Protection Program through our partnership with Pursuit BDC, (formerly NYBDC).

To get started, simply follow the link below and be sure to use Walden Savings Bank’s access code: 7749 when submitting your request.

 

Click to apply for your PPP loan today

Please use Walden Savings Bank's access code: 7749

 

 

Important Information

- The Paycheck Protection Program is available to all businesses within the community who meet program requirements.

- The link above may be used to request either a first draw or second draw PPP loan.

- After submitting your request online, you will receive additional instructions from Pursuit Lending along with a unique    invitation link to complete your application within 5 business days.

- These instructions will include guidance on any additional documentation needed to process your request.

- Upon submission of your application, Pursuit Lending will manage the remainder of the process along with requesting loan forgiveness.

Not sure if your business qualifies for a PPP loan? Please visit the PPP Application Resource Center provided by Pursuit Lending for everything you need to know about first and second loan requests as well as loan forgiveness. 

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PPP Loan Forgiveness

The PPP loan forgiveness process will be managed by our SBA partner Pursuit Lending. Pursuit will send invitations to each of our customers in phases to apply for loan forgiveness, please wait to hear from them before starting the process. 

Should you business have questions about loan forgiveness in the meantime, we invite you to visit the PPP Loan Forgiveness Resource Guide provided by our SBA partner, Pursuit Lending. 

 

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Economic Injury Disaster Loans

The deadline to apply for a COVID-19 pandemic Economic Injury Disaster Loan has been extended to December 31, 2021, pending the availability of funds. Loans are offered at affordable terms, including a 3.75% interest rate for small businesses and 2.75% for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. All eligible small businesses and nonprofits are encouraged to apply directly through the SBA Website. 

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We're Here to Help

The COVID-19 pandemic has had an adverse effect on many local businesses and Walden Savings Bank is here to help our customers. We understand that this unprecedented event may result in disruptions to your business, declines in sales, employee unavailability and even temporary closures. 

 Some ways in which we may provide support include:

-Flexibility with payments and/or terms on your current Walden Savings Bank loan. 
-Waiving fees related to overdrafts, account service charges, wires and penalties for CD withdrawals. 
-Expanded limits on Remote Check Capture, Mobile Deposits, ACH transactions and Debit Cards.

 

Important Update Effective November 16, 2020 

To provide greater flexibility and account access while branch lobbies were closed, limits on withdrawals from savings and money market accounts were removed on May 11, 2020 for a period of six months.

With lobby access now fully restored, please be advised that savings and money market accounts will once again be limited as per regulatory requirements to six (6) transfers/ withdrawals per statement cycle.  Transfers and withdrawals in excess of six (6) per statement cycle will once again be subject to the regular $15.00 fee. This includes: 

- preauthorized or automatic transfers
- telephone transfers
- checks, drafts, debit card or other orders payable to third parties

 

If your business has been adversely impacted by the COVID-19 pandemic resulting in a financial hardship, please contact us today for further assistance.

Customers needing assistance with their Walden Savings Bank Business Credit card should contact our credit card services partner by calling 866-323-3587 or the customer service number available on the back of your card.

Businesses who process credit card payments through our partnership with TSYS (Global Payments), may reach out to the support team at 800-654-9256.  They'll help guide you through a number of remedies especially for those businesses who are unable to remain open during the COVID-19 pandemic. 

 

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