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COVID-19 Business Resources

Icon illustration The U.S. Small Business Administration (SBA) has launched the Paycheck Protection Program (PPP) Direct Forgiveness Portal. If your business received a PPP loan of $150,000 or less, you can submit your forgiveness application to the SBA online at If you prefer, you can work with your Bar Harbor Bank & Trust Commercial Banker to submit your forgiveness application.

Bar Harbor Bank & Trust has helped our customers navigate many financial crisis and economic downturns over the last 134 years. We are committed to working with all of our customers to help them navigate through the COVID-19 crisis. If you are experiencing financial difficulties due to COVID-19, we want to help. Some of the programs and options available are provided here.

As a business customer or business owner, you may be wondering what your relief options are. We encourage you to connect with your Commercial Banker. They can discuss the different options, including government-sponsored SBA programs, and develop a solution specifically for your needs. If you don’t currently have a banking relationship with us, please contact your local branch and they will connect you with a Commercial Banker who can help you. Good things happen when we work together.

Quick Links

Loan Payment Assistance

SBA Government Programs

Paycheck Protection Program (PPP)

More information can be found on the SBA’s website.

Economic Injury Disaster Loan (EIDL) Advances

The new Coronavirus stimulus package repeals a section of the 2020 CARES Act, which required the SBA to deduct the amount of the borrower’s EIDL Advance from their PPP forgiveness amount. If you received forgiveness of your PPP loan and your EIDL Advance was deducted from the forgiveness amount received from the SBA, you will be made whole.

  • If you have already submitted your PPP loan forgiveness application, but have not yet received forgiveness, or you have not yet submitted your PPP loan forgiveness application, your EIDL Advance will no longer be deducted.
  • If your PPP loan has already been forgiven and an EIDL Advance amount was deducted from the forgiveness amount, leaving a balance on your loan which you paid off in full, the SBA will be providing reimbursement. Method and timing are not yet known.
  • If your PPP loan has already been forgiven and an EIDL Advance amount was deducted from the forgiveness amount, leaving a balance on your loan which you elected to pay off in monthly installments, please contact your Commercial Banker for more information.

If you have not yet applied for forgiveness of your 2020 PPP loan, we encourage you to do so at your earliest convenience. All borrowers are now eligible to apply for forgiveness.

Loan Forgiveness Overview

Up to 100% of your 2020 PPP loan amount may be forgivable if you use the proceeds for these purposes:

  1. Eligible payroll costs incurred or paid during the Covered Period or the Alternative Payroll Covered Period.
  2. Business mortgage interest payments paid or incurred during the Covered Period for any business mortgage obligation on real or personal property incurred before February 15, 2020.
  3. Business rent or lease payments paid or incurred for real or personal property during the Covered Period, pursuant to lease agreements in force before February 15, 2020.
  4. Business utility payments paid or incurred during the covered Period, for business utilities for which service began before February 15, 2020.

Eligible non-payroll costs cannot exceed 40% of the total forgiveness amount. If you are concerned you do not have enough eligible expenses to qualify for 100% forgiveness of your PPP loan, please contact your Commercial Banker.  The new Stimulus law passed on December 27, 2020, has expanded the definition of expenses eligible for forgiveness. 

If you have not yet applied for forgiveness, we encourage you to do so as soon as possible.

2020 Loan Forgiveness Applications:

There are three different Loan Forgiveness Applications, each with their own set of instructions:

  1. SBA Form 3508S and Instructions (for loans $150,000 or less)
  2. SBA Form 3508EZ and Instructions
  3. SBA Form 3508 and Instructions

To determine which form is the correct one for you to use, simply review the Instructions to see if you qualify.

If you have any questions about applying for loan forgiveness, please contact your Bar Harbor Bank & Trust Commercial Banker.

Once you have completed the forgiveness application, please submit it to your Bar Harbor Bank & Trust Commercial Banker with all supporting documentation as outlined in the Instructions.

Economic Injury Disaster Loans (EIDL) and Loan Advances

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million to help with temporary loss of revenue. Borrowers can access this program by applying directly with the SBA. Visit the SBA's Economic Injury Disaster Loans webpage for more information.

SBA Debt Relief

The new Stimulus law passed on December 27, 2020, resumes payment of principal and interest (P&I) on small business loans guaranteed by the SBA under the 7(a), 504 and microloan programs, which was established under the 2020 CARES Act. All borrowers with qualifying loans approved by the SBA prior to the 2020 CARES Act will receive an additional three months of P&I payments starting in February 2021. Going forward, these payments will be capped at $9,000 per borrower per month.

After the three-month period described above, borrowers considered to be underserved - namely the smallest or hardest-hit by the pandemic—will receive an additional five months of P&I payments, also capped at $9,000 per borrower per month. They include:

  • Borrowers with SBA microloans or 7(a) Community Advantage loans
  • Borrowers with any 7(a) or 504 loan in the hardest-hit sectors, as measured by the severity of sector-wide job losses since the start of the pandemic. They include food service and accommodation; arts, entertainment and recreation; education; and laundry and personal care services.

Additional requirements apply. If you have an applicable SBA loan (not a PPP loan) and would like to know more information and details about how the new Stimulus law affects your loan payments, please contact your Commercial Banker.

For more information on these and other SBA loan programs, please visit the SBA's Coronavirus (COVID-19): Small Business Guidance & Loan Resources webpage.

Loan Modifications and Payment Deferrals

For existing Bar Harbor Bank & Trust commercial loan customers whose cash flow has been severely curtailed due to the COVID-19 pandemic, we will work with you, one-on-one to provide some relief regarding your loan payments. The first step is for us to fully understand and evaluate your liquidity needs. Please connect with your Commercial Banker to start the conversation.

Cash Management Tools

Running your business during this time of social distancing presents its challenges. Bar Harbor Bank & Trust is here to provide solutions. We offer a variety of products and services to help you run your business remotely, securely, and efficiently.

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FDIC Insured Investments
with easy access to multi-million dollar coverage
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Credit Card Processing Services
including terminal, POS, online, and mobile solutions
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Bar Harbor Business Online
for account-to-account transfers and electronic statements
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Bar Harbor Mobile
with mobile check deposit for qualified users
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ACH and Wire Capabilities
for sending and receiving payments
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Positive Pay
an automated fraud detection tool to mitigate fraud
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Remote Deposit Capture
to process checks, eliminating a trip to a branch
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Bill Pay
services to pay employees via direct deposit
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Apple Pay and Google Pay
digital wallets to pay electronically using a mobile phone app
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Bar Harbor Card Control
to mitigate fraud on your debit card
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Branch Services
including drive-up, smart ATMs, and night drop

Other Resources Available

There are a variety of organizations you can reach out to for information on assistance programs. Most have a special web page dedicated to providing information specific to COVID-19.

  • Your local Chamber of Commerce
  • Your state Chamber of Commerce
  • U.S. Small Business Administration
  • FDIC
  • Your state run Finance/ Economic Development Authority
  • Your state Department of Labor
  • Industry associations
  • Business periodicals published in your state