How COVID-19 Deferred Interest works for you
If your business took advantage of COVID-19 financial relief in the form of Merchant & Marine Bank loan interest deferrals, you may be wondering how this will affect your payments going forward.
While the deferral period has ended, the deferred interest is not due until the end of your scheduled loan term. At that time, you can choose to pay the deferred interest in full or you may renew the loan and ask that the deferred interest be included in your new outstanding principal balance.
We know how important your business is to our community and we are proud to be your neighbor and your business partner.