Is COVID-19 Adversely Impacting Your Business?

First Seacoast Bank is proud to support the local people and businesses that make the Seacoast strong and we remain committed to working with you to find solutions that help provide relief. 

Paycheck Protection Program (PPP) Loan Forgiveness:

PPP Loan Forgiveness Interim Final Rule (Updated) 

A successful PPP loan forgiveness application will require diligent recordkeeping of eligible expenses and accompanying documentation for the 8-week forgiveness period. First Seacoast Bank recommends that you consult with a financial advisor, legal counsel, Certified Public Accountant (CPA) or your payroll provider for assistance. We will continue to share guidance from the SBA as it becomes available. 

Getting Started 

  1. Download the PPP Loan Forgiveness Application 
  2. Begin Compiling Required Support Documentation 
  3. Consult with a Financial Advisor for Assistance 

We will accept PPP loan forgiveness applications beginning August 1, 2020 which allows time for preparedness of a complete application and required support documentation.  

Paycheck Protection Program (PPP) Loan: 

We are currently accepting PPP loan applications from existing business customers only. While we work diligently to help provide relief for our customers, due to the high volume of loan requests, processing limitations and availability of funds from the SBA, we cannot guarantee approval of your application. Please carefully follow the instructions below.

  1.  Download the electronic application and documentation intake form

  2. Include the following documentation:  
    • NHES quarterly filings for calendar year 2019. 941 filings are also acceptable or Federal form 940 for 2019
    • Copy of your 2019 personal tax return (for self-employed and sole proprietors)
    • Proof that you were in business as of 2/15/2020. Health insurance bill for February or March, or payroll filing for first quarter of 2020
    • List of employees that made over $100,000 for 2019 (gross amount of their payroll). A payroll summary for 2019 is acceptable
    • 2019 Schedule C (for self-employed, sole proprietors and independent contractors)
       
  3. Sign the application and be sure to initial all sections
  4. Wait for an email confirming your application is in process 
    • Your application is NOT in process until you receive a confirmation email
       

Additional Resources

PPP Borrower Information Fact Sheet

PPP Interim Final Rule

PPP Loan Forgiveness Interim Final Rule 

U.S. Department of Treasury CARES Act Assistance for Small Business 


Is COVID-19 Adversely Impacting You or Your Home?

Mortgages & Consumer Loans 

If you need assistance with Mortgage or Consumer Loans, please contact Tom Wilhelm at 603-842-6459. 

Checking & Savings Accounts 

Savings Account Terms Notice: Permanent Change 

Due to recent regulatory changes, we have lifted the transaction limitation for your savings account. Previously, Regulation D limited more than six (6) withdrawals or transfers from a savings account to another account. Effective immediately, savings account withdrawals or transfers will now be unlimited and no fees or penalties will be incurred for exceeding those limits.  

Kasasa Rewards Checking Qualification: Temporary Change 

The Kasasa Rewards Checking standard account qualification minimum for debit card transactions posted to your account each statement cycle has been temporarily reduced from 12 transactions to 6 transactions. Kasasa Rewards Checking customers will be notified 30-days prior to the resumption of the standard account qualification. All other aspects of our Kasasa Rewards Checking disclosure remain in place. While this change is only temporary, we hope it will help provide relief during these unprecedented times.