Martha’s Vineyard Bank and the Martha’s Vineyard Bank Charitable Foundation has announced a $625,000 coronavirus relief package to address the needs of both the Martha’s Vineyard and Falmouth communities.
Of this pledge, $150,000 will be distributed immediately to fund the community’s emergency needs, with another $350,000 for needs yet unknown, to be distributed over the next few months. An additional $125,000 will be used to create and fund a “Lift Certificates” program to boost short-term revenues for local small businesses.
The disbursement from the Martha’s Vineyard Bank Charitable Foundation is earmarked to address the immediate and near-term needs in the areas of Family & Child Assistance, Food & Essential Items, Emergency Housing, and Senior Support. For a list of beneficiaries, visit https://www.mvbank.com/community.
The bank’s response to the coronavirus pandemic includes:
- $150,000 to be immediately distributed to fund emergency needs,
- $350,000 earmarked for distribution in April, as the pandemic’s local impact becomes known,
- $125,000 to create and fund a “Lift Certificates” program to boost short-term revenues for local small businesses,
- Loan payment deferrals for small businesses and families,
- Numerous accommodations, such as extended hours and eliminated fees and penalties,
- Personal loans, business loans, and 0% interest credit cards, and
- Health-focused operational improvements such as “Quarantined Cash” to protect our employees and our community.
For more information on relief for families & individuals, relief for small businesses, and the Lift Certificate program please visit www.mvbank.com/community.