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Commercial Banking COVID-19 Support

Business Information and Resources

We're Here To Help.

As a commercial borrower, if you are facing financial hardships related to the COVID-19 pandemic, we are here to help.  Whether you have a regular commercial term loan or an SBA Loan there are options for you. Please contact your Relationship Manager to discuss the details.  


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Government Assistance Programs

The Coronavirus Aid, Relief, and Economic Security Act contained a number of provisions to help businesses, with the most broad-reaching being the Paycheck Protection Program.  

This page includes: Loan details, Loan eligibility, Loan increases, Targeted EIDL Advance, Existing borrowers, Program data, Additional information

This page includes: Program details, Supplemental documents, Who can apply, Grant amount, How to apply, Allowable use of funds, Video tutorials

  • SBA Debt Relief SBA offers debt relief to existing SBA loan borrowers whose businesses have been impacted by COVID-19.

This page includes: 7(a), 504, and Microloans, Disaster Home and Business Loans, Lender guidance

Midwest State Resources Available to Business Owners

As we maneuver these difficult times, each state is also making COVID-19 resources available to business owners. For your reference, we’re including some of the Midwest official state government COVID-19 resource pages for you here:

Additionally, if you live or do business in a rural area, there may be additional government COVID-19 rural support available to you.  

Bank from Anywhere

Despite these uncertain times we live in, your banking needs have not changed.  We encourage you to learn about all the ways you can bank with us, even if you need to do so remotely.  

Business Online Banking keeps all your accounts at your fingertips, from the office or your home.  Learn more about our online banking services, or if you’re ready to enroll find the step-by-step guide here.  Additionally, with mobile banking you can take care of banking from wherever and on any device.  With the First Merchants Business Mobile App you’ll be able to: access your accounts, deposit checks, make payments, pay your bills, transfer funds and approve ACH and Wire transactions.  

With ACH, you can expect to gain efficiencies, spending less time and money on processing transactions through traditional paper methods. You can also disburse funds, like paying employees, and collecting receivables through this technology.  Additionally, ACH Positive Pay can protect your business against unauthorized or fraudulent electronic transactions.  

Lockbox services allow you to outsource your accounts receivable processes. Among other things, this will reduce the amount of handling of paper/checks, including the time and money required to process those receivables. Benefits include improved cash flow, reduced internal receivable processing, timely receipt of payment data and images, and improved security. 

With the Remote Deposit Capture solution, you will benefit from a technology that will accelerate your receivables by depositing checks right from your office.  Benefits also include saving time and money from depositing at the branch.

Sending domestic and international wires through business online banking is a secure alternative versus sending wires via branch or phone. Wire transfer is the fastest form of payment when you need to send a payment same-day and guaranteed funds.  

Protect Your Business

Above all, we want to help you protect yourself from fraud.  81% of companies were targets of payment fraud in 2019.  In these uncertain times, fraudsters are more active and targeting people who are trying to adjust to a new normal in their lives and business, as a result of COVID-19.  Business Online Banking has various features to help keep your funds safe, in addition to other solutions we can provide.  To learn more about how to protect your business, visit our security center.


If I’m a current SBA borrower, can I modify my loan?
  • Yes, you may be eligible.  Depending on whether you have a 7a or 504 loan and your current situation, we will review and consider your needs.  Please contact your Relationship Manager.  

What can a disaster loan be used for?
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.

What if I can’t get to a banking center to sign my loan documents?
  • We have an option for you to be able to sign documents and scan them to us.  Please contact your Relationship Manager.  

What is an SBA Economic Injury Disaster Loan (EIDL)?
  • The SBA EIDL is a low-interest, fixed rate loan.  Borrowers apply directly through the federal government and may be eligible for up to $2million in assistance.  

How do I make an appointment at a banking center?
  • Contact your Relationship Manager or a Banking Center Manager to make appointments. 

If I have a commercial loan but not under SBA do I qualify for a modification.
  • All borrowers in good standing will be considered, depending on their individual situation.  Please contact your Relationship Manager to discuss. 

How do I know if a banking center is open?
  • All of our banking centers are available by appointment, and if there is a drive-thru those services are available during regular business hours.