COVID-19 Business Resources
2021 Paycheck Protection Program Update:
The Small Business Administration announced that funding for the Paycheck Protection Program has been exhausted as of May 4, 2021. Additional applications are not being accepted at this time. If you have a pending application with our SBA partner Pursuit Lending, you may contact them directly for additional information by emailing them at: [email protected]
Paycheck Protection Program
The Small Business Administration announced that funding for the Paycheck Protection Program has been exhausted as of May 4, 2021. Additional applications are not being accepted at this time. If you have a pending application with our SBA partner Pursuit Lending, you may contact them directly for additional information by emailing them at: [email protected]
If we may be of other assistance or if you have additional questions, please contact us and a member of our team will be happy to assist you.
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.
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.
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.