Gilbert Area Financial Institutions Offer Additional Support, Resources to Businesses Impacted by COVID-19

View Contact

We recognize the coronavirus is causing serious monetary implications for families. We are extending financial flexibility for customers who have been placed in quarantine due to potential exposure and whose employers do not offer paid leave for these circumstances. If you are taking unpaid time off due to quarantine, and as a result, are facing financial hardships, FirstBank is offering:

• Fee Refunds: Fees such as Non-Sufficient Fund (NSF) fees, overdraft fees, Visa card fees and early withdrawal fees, etc., will be waived or refunded for impacted customers. If related to their quarantine situation, customers may also be able to avoid transactional fees for bank offerings such as wire transfers, cashier's checks or money orders.

• **Zero Percent Interest Rates: The bank will reduce interest rates on credit cards to 0 percent and cash reserves to .001 percent for a one month period, as long as the impacted customer contacts FirstBank prior to April 15th to request the lowered rate. Impacted customers, who do not currently have a credit card or cash reserve line, can apply and will be provided the same offer, pending they meet the bank's credit requirements.

• One-Time Omitted Loan Payment: Customers in quarantine and on unpaid leave may have the ability to skip one payment on their personal loan or mortgage upon request. Please contact customer service to find out if you qualify.

If you are experiencing other financial hardships related to COVID-19, please contact us (1-800-964-3444; option 0), so we can work with you individually.

Lending a helping hand to small businesses

Mountain America understands that the COVID-19 pandemic has resulted in economic disruptions that may impact the financial welfare of our members. If your business is faced with financial challenges, we may have loan relief options available to assist you.

Mountain America can assist with the PPP loan. Please click here for more information.

Assistance for Members and Business Members experiencing financial hardship as the result of COVID-19 pandemic situation For commercial real estate requests email CRELendingGroup@VantageWest.org

For assistance with term loans, including commercial vehicle loans, business credit cards, and lines of credit, call 855.751.7003

Small Business Administration (SBA) assistance available through their Economic Injury Disaster Loans (EIDL) program. Additional information about SBA EIDLs is available at sba.gov/coronavirus

1. SBA Paycheck Protection Program (PPP)
   1. For small businesses that need capital to cover the cost of retaining Employees
   2. Will provide Cash-flow assistance through 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency.
   3. Roll-out/go-live is expected to be April 6^th – Application has not been developed by SBA. Expected to receive those by April 3^rd.
   4. PPP Informational Flyer
   5. PPP Application Checklist
2. Emergency Economic Injury Disaster Loan (EIDL) Grants*
   
   1. For small businesses that need a quick infusion of small amount of cash to cover immediate operating needs
   2. These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL)
   3. SBA Website to apply for this Assistance: https://covid19relief.sba.gov/#/
3. Small Business Debt Relief Program
   1. For small businesses that need assistance with covering SBA loan payments
   2. Provides immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans. Under this program, SBA will cover all loan payments on these SBA loans including principal, interest and fees, for six months.

CONTACT:
Geoff Cummings, Senior Personal Banker
NMLS ID: 542974
1952 E Pecos Rd, Gilbert, AZ 85295
P: 480.726.5740 | D: 480.726.5744

If you’ve been impacted by the recent effects of the coronavirus (COVID-19), TruWest® Credit Union is here to help. Click here to learn more.