Martha’s Vineyard Bank, Charitable Foundation pledges $625,000

Filed Under: Banking, COVID-19 Resource Center, More News

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.

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