COVID-19 Payment Relief Information

If your household or business has been financially impacted by COVID-19


For Commercial Borrowers: 

We have recently received the initial federal guidance from the SBA on loan forgiveness and are evaluating automated systems to help you navigate the forgiveness process in the easiest way possible. We will notify you once we are prepared to start accepting forgiveness applications.


For Business Customers that have received their SBA CARES Act Loan Documents and need help navigating the DocuSign package:

 If you received an SBA PPP loan closing package, please click here for screen shots to help you complete and sign your loan documents.


For Business Customers Interested in Applying for the SBA CARES Act Loan Program 

We are accepting PPP applications from both customers and non-customers. Non-customer borrowers must have businesses located in one of the following towns or cities in order to be eligible to apply through RCB: Andover, Bedford, Billerica, Burlington, Lawrence, Lexington, Lynnfield, Methuen, Middleton, North Andover, North Reading, Reading, Stoneham, Tewksbury, Wakefield, Wilmington, Winchester, and Woburn.

To have your application ready to submit for the second round of funding, please complete this form and send along with the appropriate documents listed below to To learn more about the SBA program, please refer to the PPP Borrower Fact Sheet. 

For corporations, please provide the following documentation along with your application:

  1. NAICS Code
  2. Date your business was established
  3. The authorized signer and that person’s email address (we’ll be closing via DocuSign, so watch for your package!)
  4. 2019 payroll records – either the final payroll run of 2019, the W2 file for all employees, or any other official document that will provide us with enough detail to know which employees are making more than $100,000 annually as that is the maximum compensation per employee
  5. 2/15 payroll record to demonstrate that you were in business with employees at the beginning of the crisis
  6. Have you submitted an SBA PPP application at another financial institution? If yes, please explain in your email

For sole proprietors or 1099 contractors, the following will satisfy the requirements of 4 & 5 above:

  1. Schedule C from your 2019 tax return (if you have not filed for 2019, provide 2018 schedule C and a profit and loss statement for 2019)
  2. A business checking account statement for the month of February demonstrating business activity

Have you submitted an SBA PPP application at another financial institution? If yes, please explain in your email.

At the end of this crisis, if you intend to apply for forgiveness, you will be required to demonstrate that you spent 75% of the loan on payroll related expenses and no more than 25% on utilities, rent or interest expense.

Questions & Answers: an excerpt from the SBA Business Loan Program

We will update the Q&A as more information about the second round of SBA funding becomes available.


For RCB Customers Seeking Forbearance

Residential Customers

If you have a mortgage or home equity loan with RCB and need payment relief because you have been terminated, laid off, furloughed, or have had your household’s income reduced because of the current pandemic, you can obtain approval to modify your payment obligations for up to 90 days in order to allow you to use your current funds for living expenses.

Here is an example of what our loan forbearance form will look like. To apply for forbearance, please email They will walk you through the next steps in the process.

For all mortgage-related inquiries, please call 781-670-1501 or email

Business Customers

If you would like to request a deferment on your loan, please email  


For general updates at RCB, please visit our coronavirus response page. Thank you for your patience and for banking with RCB.