COVID-19 Resource Center

To do our part during the pandemic, South Shore Bank is addressing your banking needs in different ways:

Paycheck Protection Program (PPP)

Last Updated: 4/1/2021

 As of 3/31/2021, South Shore Bank is only accepting PPP applications from existing South Shore Bank commercial clients that either:

  1. Are applying for a 2nd Draw PPP loan and received their 1st Draw PPP loan from South Shore Bank after January 19, 2021
  2. Have a South Shore Bank Commercial account opened prior to January 19, 2021, and are applying for a 1st or 2nd draw PPP loan, of which your business became eligible due to the most recent updates in the SBA Interim Final Rules.

Updated: 3/26/2021

When the PPP Loan deadline extension is signed into law, we will only be accepting PPP applications from existing South Shore Bank commercial customers that are either:

1) Applying for a 2nd Draw PPP loan and received their 1st Draw PPP loan at South Shore Bank

2) Have a Commercial account with South Shore Bank and are applying for a 1st Draw PPP loan, of which they became eligible, due to the most recent updates in the SBA Interim Final Rules.

We are pleased to have helped so many businesses get through these difficult times.

Updated: 3/19/2021

We are no longer accepting PPP applications. We are pleased to have helped so many businesses get through these difficult times.

Updated: 3/5/2021

Important Update for Schedule C Borrowers

South Shore Bank is proud to be able to help you obtain an SBA Paycheck Protection Program (PPP) loan during the COVID-19 pandemic. The SBA has recently implemented a change to the CARES Act and the Economic Aid Act for Schedule C borrowers. This change will allow the use of gross income from line 7 of Schedule C to calculate sole proprietor wages to determine PPP First and Second Draw loan amounts. 

The SBA has developed two new applications for Schedule C First Draw PPP loans (3483-C) and for Schedule C Second Draw PPP loans (3483- SD-C) which will soon be available in the SSB StreetShares portal. We will notify you when available so you can submit your application.

NOTE: The recently approved SBA changes are not retroactive. 

Updated: 1/17/2021

South Shore Bank is NOW Accepting PPP Applications!

South Shore Bank will be permitted to submit completed Paycheck Protection Program (PPP) applications on behalf of our clients to the SBA on Tuesday, January 19, 2021. However, our automated portal is NOW open and will allow you to begin the application process.

For additional information on the first and second draw of PPP loans, CLICK HERE. You may also contact your Loan Officer directly, or call our Client Information Center (CIC) at 781.682.3715, or email with any questions you may have.

South Shore Bank will be here for you every step of the way just as we were during the initial round of the Paycheck Protection Program. Thank you for your banking relationship!

Updated: 1/5/2021

The information provided is intended for informational use only and is subject to change.

On December 27, 2020, the President signed into law new legislation expanding the Paycheck Protection Program (PPP) to assist small businesses affected by the COVID-19 pandemic. South Shore Bank will wait for the U.S. Treasury and the Small Business Administration (SBA) to enact rules, guidance and forms implementing the program. Once the program is implemented, businesses will be able to apply for a second PPP loan (or apply for their first PPP loan).

Paycheck Protection Program (PPP) Second Loans
Establishes a new round of PPP loans for eligible businesses. The maximum loan amount for a second loan is $2 million.

  • This loan program applies to small businesses with 300 or fewer employees and a 25% revenue loss in any quarter of 2020 relative to that same quarter in 2019.
  • Forgivable expenses have been expanded and include supplier costs and investments in facility modifications and Personal Protective Equipment (PPE) to operate safely. This is not retroactive to the original, first PPP loan program.
  • The full amount of any first PPP loan must be used before a second PPP loan is distributed.
  • Some eligible businesses may qualify for more funding due to changes in guidance after they obtained their original loan.
  • Eligible businesses who have not yet received a PPP loan may apply under this second loan program.

Paycheck Protection Program (PPP) Loan Forgiveness

The new legislation also simplifies the PPP forgiveness process for loans of $150,000 and less and gives businesses more flexibility on how they use the funds. If you have not yet applied for loan forgiveness, you may want to wait to apply for a second PPP loan as there may be an impact on your ability to obtain additional PPP funding.


For the latest information on PPP forgiveness, visit and

For EIDL loans, visit the SBA here.

Should you need additional information, please contact your Loan Officer directly.

Branch Lobby Updates - ALL branch lobbies will be OPEN.

All branch hours will remain Monday – Friday 8:30 am to 4:00 pm, Saturday 9:00 am to 12:00 pm.

As we continue to monitor statewide ordinances and guidance from the Center for Disease Control (CDC), our priority remains the health and safety of our clients, employees, and community.

  • Occupancy Limits are in Effect - We will continue to limit the number of people allowed in the branch per current state mandates.
  • Stop the Spread - If you feel sick, please do not enter a branch. We are happy to service you at a drive-up, through our FACE2FACE Virtual teller or over the phone at 781.682.3715.
  • South Shore Bank continues to take the following steps to help ensure a safe environment:

How is South Shore Bank staying safe? Employees working remotely. Greeters welcome clients and manage capacity. Required face covering for clients and employees. Hand sanitizer at all client desks. Directional arrows that safely manage foot traffic. Floor markers showing where to stand at a safe distance. Protective shields between all clients and employees. Deep cleaning and sanitizing procedures.

For your convenience, our FACE2FACE Virtual Teller machines, online banking, and mobile banking are also available for your banking needs.  As an added convenience, you are also able to schedule an appointment at any of our branch locations through our website.

Economic Impact Payments (EIPs)

South Shore Bank is standing ready to help our clients get access to the government’s approved $1400-per-person Economic Impact Payments (EIPs) quickly, securely, and safely. The following are important dates and Frequently Asked Questions for your review.

The Internal Revenue Service has begun processing payments for the $1400-per-person EIPs.

How will I receive my EIP (if qualified)?

Direct Deposit or Prepaid Debit Cards

The fastest way to get your money in a safe and secure manner is through direct deposit to either a bank account or a reloadable prepaid debit card.

The government is expected to make some payments to recipients who have not provided their bank account information for electronic payments, through Treasury-issued prepaid cards. These cards will be sent via the U.S. Postal Service. Visit Money Network Economic Impact Card | Money Network Economic Impact Payments ( for more information.

Paper Checks

As a last resort, we understand that the government will need to send millions of paper checks to consumers across the country despite the challenges this will pose in communities with “stay at home” orders and reduced bank business hours. There are fixed capacity limitations for mailing checks, so some recipients will be waiting weeks for theirs to be mailed. We strongly encourage our clients to deposit their checks using our secure mobile app, Face2Face machines, or ATMs. To speed delivery of your payment, clients without a personal checking account can also consider opening an account online at Checking Accounts | South Shore Bank.

What do I need to do to receive my economic impact payment?

Most consumers don’t need to take any action. The IRS already has direct deposit information for millions of Americans from the first round of EIPs in April. During the first round of EIPs, the IRS hosted live internet portals that allowed recipients to register their banking information to receive payments electronically. We expect the IRS to pursue a similar strategy, but we are awaiting official confirmation. For the most up-to-date information, please visit Coronavirus Tax Relief and Economic Impact Payments | Internal Revenue Service ( for more information.

Once deposited, how quickly will I have access to the funds? Is this different for direct deposit and checks?

Consumers who have the funds deposited directly into their accounts will have access to the funds much faster. Waiting for a paper check to be printed and mailed will take longer—weeks and possibly months.

How do I check the status of my payment?

During the first round of EIPs, the IRS’s “Get My Payment” portal allowed consumers to check their payment status. The portal can be found at Get My Payment | Internal Revenue Service (

IMPORTANT! Consumers should be wary of fraudsters who are already attempting to scam people out of their payment and keep in mind that the government will not contact you by phone, text, or email about this payment.

The portal will not allow recipients to input any bank account information.

For additional questions

Please feel free to contact our Client Information Center (CIC) at or call 781.682.3715. Please continue to visit for updates.


Economic Injury Disaster Loan (EIDL)

Procedural Notice - SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement (Released 1/8/21)

For those loans where SBA remitted a forgiveness payment to a PPP lender that was reduced by an EIDL Advance, SBA will automatically remit a reconciliation payment to the PPP lender for the previously-deducted EIDL Advance amount, plus interest through the remittance date.  If the amount remitted by SBA to the PPP lender exceeds the remaining principal balance of the PPP loan (because the borrower made a payment on the loan), the PPP lender must remit the excess amount, including accrued interest paid by the borrower, to the borrower.

Beware of Fraud and Scams

Paycheck Protection Program (PPP)

  • Please be alert – scammers attempt to take advantage of PPP programs to perpetuate fraudulent activity. Learn more about COVID-19 scams here.

Economic Impact Payment

  • Phone Scams - Scammers claiming to be IRS agents may ask you to "verify" personal information in order to receive your stimulus check or claim that you owe money and need to sign over your check. 
  • Bank Scams -Scammers may call or email pretending to work for South Shore Bank and ask for your account information or Social Security Number. We will not ask for financial or personal information through email, text, or unsolicited calls. 
  • Check Scams - Scammers may send fake stimulus checks. Signs of fraud include checks for an odd amount (a real check won’t include cents), or one that requires you to visit a website or call a number to confirm.
  • No one will call or email you from the government regarding your check. If you get a text, phone call, or email asking you for your personal information, do not respond.
  • Remember, government agencies do not communicate through social media avenues like Facebook. So, be wary of unsolicited messages.
  • Seniors are especially vulnerable to these kinds of scams. It is important during this time to check on elderly neighbors and others who may need help, to be sure they are made aware of the most recent scams relevant to the coronavirus crisis.


  • Be on alert for scams
  • Look out for unauthorized or fraudulent charities or solicitations
  • Beware of false and misleading information
  • Unemployment Fraud