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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The Coronavirus Aid, Relief, and Economic Security Act has been passed.  It contains a number of provisions to help businesses.  These include an SBA lending expansion entitled the Paycheck Protection Program, which will cover 8 weeks of worker pay, with the possibility of having the loan forgiven if requirements are met.  The act also expands the SBA’s EIDL program eligibility and makes it easier to apply.  Business tax credits are yet another component of the CARES Act.  Finally, it puts in place changes that affect paid sick leave and paid FMLA by modifying the Families First Coronavirus Response Act. While we understand that you have immediate needs, we appreciate your patience as we quickly work through preparations to be able to process the solutions to meet your needs.  We’ll keep you updated as things progress, but in the meantime you can gather the relevant documentation and enroll in online banking in order to be able to apply.  Please call your relationship manager with any questions.   

As a preferred SBA lender, First Merchants is also able to make certain SBA loan modifications for existing borrowers.  For both 7A and 504 loans, the bank has deferral options as needed.  

Businesses may also inquire directly with the SBA about the expanded; Economic Injury Disaster Loans (EIDL) program, which is a direct loan program through the federal government.  We will keep you posted on any future developments with regard to SBA lending.


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.  

Digital and Mobile Banking 

We encourage you to continue banking through our digital banking options – online banking and mobile application - which are robust and easy to use wherever you are.  

Enroll in Business Online Banking

Download the First Merchants Business Mobile Banking App

Using the First Merchants Business Mobile App, you'll be able to:

  • Access your accounts
  • Deposit checks
  • Make payments
  • Pay your bills
  • Transfer funds


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 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.  

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%.

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

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.  

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.