Mortgage Payment Deferment & Relief COVID-19 | Huntington Bank










Last updated: 8/6/2020

At Huntington, we understand the critical role small business plays in the vitality of our communities and economy. Please take a moment to review the Relief Programs. For any questions you may have please reach out to one of our branches, visit our branch locator to find a branch near you. Or if you have a Relationship Manager, they are available to serve your financial needs by phone or appointment. Please contact your Relationship Manager directly.

Note to Agents:

Huntington is not working with third-party agents on Paycheck Protection Program (PPP) loans, either at origination or in connection with forgiveness applications. We will work directly with the borrower including when they apply for forgiveness of any PPP loan extended to them. Huntington will not pay fees to any firm claiming to be a borrower’s agent in connection with either of those processes.

Relief Programs










Paycheck Protection Program (PPP) Loan Forgiveness

The SBA launched its forgiveness portal on August 10, 2020, which may be extended subject to any legislative changes Congress is currently considering. However, we recognize that accepting forgiveness applications while Congress is attempting to further simplify the forgiveness application and process as set forth in the various pending bills could result in unnecessary work and/or expense to our customers. For that reason, we, like many other banks, are choosing to delay accepting loan forgiveness applications until there is final clarity on the process. We will not be accepting forgiveness applications until September at the earliest.

Please review this information regarding changes to PPP including loan forgiveness as a result of the Paycheck Protection Flexibility Act (enacted June 5, 2020).

We assure you as soon as our loan forgiveness application process is ready, Huntington will provide further guidance to borrowers on how to submit.

With PPP guidance continually evolving, we recommend monitoring the SBA and Treasury websites for updates. In addition, as we learn of changes to the program, we will update this page.

You are encouraged to consult with your professional advisors for a comprehensive review of the PPP rules and guidance.











Economic Injury Disaster Loans (EIDL)

  • Purpose: To supplement lost revenue on account of COVID-19
  • Use of Funds: Payroll expenses, fixed debts, accounts payable, other expenses
  • Amount: Up to $2MM
  • Rate: 3.75% or 2.75% for non-profits
  • Structure: Up to 30 years
  • Forgiveness: None
  • Features: Guarantor support and any available collateral required
  • How to Apply: sba.gov/disaster
















SBA Traditional 7(a)

  • Purpose: New money for recovery, purposes unrelated to COVID-19
  • Use of Funds: Refinance of current debts, purchase and refinance of real estate, new money for purchases of equipment or software, working capital, business acquisitions, business improvements, support for startups that don’t qualify for disaster assistance
  • Amount: Up to $5MM
  • Rate: SBA market rates
  • Structure: Up to 25 years
  • Forgiveness: None
  • Features: Guarantor support and any available collateral required

How to Apply: If you typically use our branches, please visit our branch locator to find a branch near you. Or if you have a Relationship Manager, they are available to serve your financial needs by phone or appointment. Please contact your Relationship Manager directly.












Small Business Loan Payment Deferral Program


Business loans that are supported by an SBA guaranty and are in good standing will receive payment relief through the CARES Act. The SBA will be making your contractual payments for 6 months beginning with payments due after March 27, 2020. These payments will happen automatically and you do not have to do anything to receive this payment relief.
















Credit Card Payment Assistance


We understand that making payments on your Voice Credit Card

®

may be difficult right now. For payment deferral requests, contact

(800) 372-7725

, Monday through Thursday 8:00a.m. to 9:00p.m. and Saturday 8:00a.m. to 4:00p.m. ET.  










Fee Waiver Information for Small Business Customers


For all customers with an Unlimited or Unlimited Plus Business Checking account, we will waive the Monthly Account Service fee, for April through December 2020.


You do not need to take any action to take advantage of these waivers—we’ll do them automatically. We will continue to look out for you and your business as we navigate this challenging situation, together.
















Main Street Lending Program (as of June 29,2020)

The Federal Reserve and the Department of the Treasury, under the CARES Act, have established the Main Street Lending Program, whereby the Main Street SPV will purchase 95% participations in qualifying loans to eligible borrowers.

The purpose of the program is to provide credit support to small and medium-sized businesses and their employees across the United States to assist companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain their operations and payroll until economic conditions normalize.

Please refer to the Main Street Lending Program materials published by the Federal Reserve Bank of Boston for full program details. Program details are subject to change.

Loans are subject to credit approval, program eligibility and program requirements.

View Details
















Contacting Your Banker

  • Please refer to branch and call center information if you typically use our branches.
  • Most of our Relationship Managers are now working virtually and are available to serve your financial needs by phone or appointment. Please contact your Relationship Manager directly.
  • For assistance with Business Online Banking, please call (614) 480- 2001 or (800) 480-2001, Monday – Friday 7:30 a.m. – 6:30 p.m. ET
  • For assistance with Treasury Management Services, please call (800) 480-4862, Monday – Friday 7:00 a.m. – 6:30 p.m. ET







Loans subject to credit application and approval.







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