Business Banking Assistance

Your business needs answers. We’re here to help.

Our Commercial Team is ready to assist you, our business clients, to ensure you are provided the support you need. We are in unprecedented times. The one thing we know is working together is our best way forward.

Information Regarding the Paycheck Protection Program

Congress has recently approved and appropriated $320 billion in additional funds for the Payroll Protection Program (PPP) and the SBA is now accepting applications. Norway Savings Bank is accepting applications from existing customers, and it’s important to keep in mind that the additional funds will be made on a first-come, first-serve basis and will only be available until the funds are depleted.

Please note: If you have already applied for a PPP loan from us, there is no need to reapply. If you have questions regarding an existing application, please send an email to

We would like to assist all Maine-based small businesses, but we are only accepting applications from Norway Savings Bank customers at this time.

Small Business owners who are not NSB customers should contact their current financial institution as soon as possible to see if they are participating in the Paycheck Protection Program. Based on the U.S. Treasury guidance, this is the best and fastest method for applying for federal relief.

What you need to know when applying for a PPP loan:

  • Businesses with fewer than 500 employees, including sole proprietorships, independent contractors, and self-employed persons, private non-profit organizations and veteran organizations may apply subject to eligibility.
  • Applicants will need to provide supporting document(s) for the loan amount being requested in the form of payroll documents during calendar year 2019, or if a new business, for the period 1/1/2020 through 2/29/20.
  • All applicants need to have an established relationship with Norway Savings Bank including a checking account. Due to the high volume of loan applications we have received, we are only accepting applications from NSB customers at this time.
  • Loans may be forgiven up to the full principal amount of the loan and accrued interest. See the SBA PPP Interim Final Rule on page 13 for details.
  • Loan payments will be deferred for six months. No collateral or personal guarantees are required.
  • The loan has a maturity of two years and interest rate of 1%.
  • Neither the government nor Norway Savings Bank will charge the borrower any fees.
  • The program will be available through June 30, 2020 or until program funds are exhausted.

You may also need the following items to complete the application:

  • Your most recent IRS Form 941 – Employer’s Quarterly Federal Tax Return
  • A breakdown of your January 2019 through February 2020 payroll expenses to help determine loan sizing
  • Payroll processor records if applicable

If you have questions while completing the application:

  • The SBA PPP Interim Final Rule can be found HERE. You will find many of the answers you may have starting on page five.
  • Another source of information is located on the SBA’s website under the Small Business Guidance & Loan Resources
  • If you send an email to please know that we anticipate a high volume of questions and we will do our best to get back to you as soon as possible.
  • A top-line overview of the program can be found HERE
  • If you’re a borrower, more information can be found HERE

Are you ready to start or resume an application?

The PPP Loan application for customers of Norway Savings is available below:

Apply Now

Please note, the preferred browser for completing the PPP application is Chrome.

Please remember SBA funds are allocated on a first-come, first-served basis, and we are working incredibly hard to process all customer loan applications into the SBA loan system. However, please know there may be delays in our ability to process all applications in a timely manner. We have experienced a tremendously high volume of incoming PPP loan applications and we are prioritizing our processing in the order in which they are received.

Other Relief Programs

COVID-19: Norway Savings Bank announces financial hardship relief

The U.S. Small Business Administration (SBA) is offering a variety of relief programs for small businesses impacted by the COVID-19 crisis.

The Finance Authority of Maine (FAME) has loan programs available to eligible Maine businesses and individuals/employees who are experiencing hardships due to COVID-19.