Branch Operations

Effective 5/26/2021:

All of our branches are open. Appointments can be made for lobby access by calling the branch telephone number. Here's the branch contact information.

The following safety measures have been put in place to protect the health & safety of our customers, employees and community:

  • All individuals entering the building are required to wear a face mask.
  • No public restrooms are available at this time.
  • Occupancy limits for each branch will be imposed which may result in increased wait times.
  • Social distancing signage will be posted and enforced within each branch.
  • If you are not feeling well, please utilize our online and mobile banking services.
  • Branch hours & locations can be found here.

Please check this website for future updates. We apologize for any inconvenience.

SBA PAYCHECK PROTECTION PROGRAM (PPP)

Click here for SBA PPP program details

SBA PPP Update – 5/6/21:

The SBA notified us that as of May 4, 2021, PPP funds have been depleted and they are no longer accepting applications.

All applications for first or second draw loans that were approved by the SBA will be funded.

All applications that were submitted to the SBA but are either under review or being held for technical reasons will be processed and, if ultimately approved by the SBA, will be funded pending availability of funds. We have been told that funds have been reserved for all applications submitted to the SBA.

We will be sending emails to all applicants who have applications in the Unity Bank queue that had not been submitted to the SBA. These applications will be withdrawn from the Unity Bank system.

If you have any questions regarding your SBA PPP loan or loan forgiveness, please email your name and business name to: SBA_PPP@unitybank.com
 

SBA Restaurant Revitalization Fund Application and Guidelines – 4/19 Update:

The SBA announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RFF). Under this announcement, details on application requirements, eligibility, and a program guide are now available.

For more information, please visit www.sba.gov/restaurants or contact the SBA NJ District Office at: 973-645-2434
 

SBA EIDL Assistance/Supplemental Targeted Advance Program - 4/28 Update:

The SBA launched a new round of Economic Injury Disaster Loan (EIDL) assistance – called Supplemental Targeted Advances – on April 22nd that will provide $5 billion in additional assistance to 1 million small businesses and nonprofit organizations that have been most severely affected by the economic effects of the COVID-19 pandemic. The Supplemental Targeted Advance program is the latest SBA relief program to launch as part of the American Rescue Plan Act on March 11, 2021.

This additional relief to the smallest and hardest hit businesses builds on Administrator Guzman’s April 6 action to significantly increase the maximum loan amounts for COVID-19 EIDL assistance from 6 months of working capital with a maximum of $150,000 up to 24 months of working capital and a maximum of $500,000. SBA also announced on March 12 that the agency would extend deferment periods for all disaster loans, including COVID-19 EIDLs, until 2022 to provide more time for businesses to build back.

Effective April 22, the SBA modified the Targeted EIDL Advance application process to determine if businesses also qualify for the additional $5,000 Supplemental Targeted Advance. SBA will contact eligible business entities to apply and applications will be processed on a first-come, first-served basis. To qualify for the Supplemental Targeted Advance, an eligible business entity must be in a low-income community, suffered greater than 50 percent economic loss, and have 10 or fewer employees.

For details about the Targeted EIDL Advance and Supplemental Targeted Advance program, please visit www.SBA.gov/eidl. Eligible entities can email questions about the SBA Targeted EIDL Advance and Supplemental Targeted Advance to TargetedAdvance@sba.gov, COVID-19 EIDL disaster loan payment questions to DisasterCustomerService@sba.gov, and contact SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing).
 

SBA PPP Loan Forgiveness - 3/25 Update

The simplified PPP loan forgiveness application for loans less than or equal to $150,000 is now available. We will be sending out unique loan forgiveness application links to all qualified borrowers. Please keep an eye out for the email.

Borrowers will simply certify several questions pertaining to how the loan proceeds were utilized and sign the form. No supporting documentation will be required.
 

Please Note: If you do not receive an application link by March 31st, please email the borrower’s legal name and business name to: SBA_PPP@unitybank.com.
 

SBA 7(a) Loans:

Great news! The SBA is forgiving up to the first 3 months of principal and interest payments, capped at $9M per month, on new SBA loans approved between 2/1/21 and 9/30/21. The SBA guaranty fee has been waived for all loans approved before 9/30/21 resulting in a significant savings in closing costs. Further, borrowers who have already received 6 months of SBA loan payments in 2020 will receive an additional 3 months of payments beginning with their February payment, capped at $9M per month. Please email SBA_PPP@unitybank.com.
 

Continuing CARES Act Payments:

Borrowers who have received previous CARES Act P&I payments will receive an additional 3 months of payments beginning with their February payment, capped at $9M per month. After the 3-month period, certain hard-hit industries will get an additional 5 months (also capped). New SBA loans approved between 2/1/21 and 9/30/21 will get their first 6 months payments made by the SBA, capped at $9M per month. SBA guaranty fee has been waived for all loans approved before 9/30/21. This will result in significant savings in loan closing costs.

SBA PPP Loan Deferrals

With the passing of the SBA PPP Flexibility Act on June 5, 2020, the covered period for all PPP loans was extended from 8 weeks to 24 weeks from the date the loan was funded. Additionally, the period for which loan payments would be deferred was extended to 10 months from the end of the covered period (or to the date SBA renders a decision on forgiveness, whichever comes first).

Certificates of Deposit - Early Closure Penalties Waived

Unity Bank will waive the early closure penalty for CD’s opened prior to April 1, 2020. Please call your local branch for assistance. A list of branch locations and phone numbers can be found HERE

IRS Stimulus (EIP) Direct Deposit or Check Issuance

Unity Bank is working hard to ensure our customers are credited funds sent from the IRS as a direct deposit or check.

IRS Stimulus (EIP) Direct Deposit

For our Checking and Saving account holders expecting your Stimulus Deposit to go directly to an account at Unity Bank, please first log into your account online to verify the Stimulus Deposit or contact us at 800-618-2265.

If you DO NOT currently have a Checking or Savings account on file at Unity Bank but your 2018/2019 tax refund was deposited into a Unity Bank account that has since been closed, your stimulus check will be made available via check by the IRS, please visit www.irs.gov for further guidance in obtaining your funds via check.

IRS Stimulus (EIP) Checks

Unity Bank customers receiving a check from the IRS, please feel free to deposit your check through Unity Bank’s Mobile Deposit Service or visit your local office for assistance.

If you are going to utilize your local office, please ensure all parties are present to process the transaction and each has proper identification.

IRS Stimulus (EIP) Prepaid Debit Cards

Check your mail. Millions of people are getting Economic Impact Payments by prepaid debit card mailed in plain envelopes from Money Network Cardholder Services. Learn more at: www.irs.gov/

For more information and/or to check the status of your payment please visit: https://www.irs.gov/coronavirus/economic-impact-payments.

Loan Relief

Small Business Federal Disaster Loans

The U.S. Small Business Administration is offering direct, low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

These Disaster Loans offer up to $2 million in financial assistance to help overcome the temporary loss of revenue they are experiencing. 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.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

For SBA Disaster Relief information, please call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.

To apply directly to the SBA for disaster relief, please visit: https://disasterloan.sba.gov/ela/.

For New Jersey based businesses, additional information on relief can be obtained by calling the New Jersey Business Action Center (8am–5pm ET) at 1-800-JERSEY-7, or at https://cv.business.nj.gov/.

ALERT - POTENTIAL PANDEMIC SCAMS

During these unprecedented times consumers may receive false information regarding the security of their deposits or their ability to access cash. The FDIC does not send unsolicited correspondence asking for money or sensitive personal information. The agency will never contact people asking for personal details, such as bank account information, credit and debit card numbers, Social Security numbers, or passwords.

Consumers may also be contacted by persons who claim to be employed by an agency, bank, or another entity. These scams may involve a variety of communication channels, including emails, phone calls, letters, text messages, faxes, and social media. Scammers might also ask for personal information such as bank account numbers, Social Security numbers, dates of birth, and other details that can be used to commit fraud or sell a person's identity. Consumers should not provide this information.

Digital Services:

It’s a good idea for you to be prepared to manage finances in the event you cannot conduct business in the place or manner you usually do. Whether the Bank’s digital products are your first preference or a back-up, please make sure that you are familiar with the bank's electronic products, how to enroll and how they work.

If for any reason you cannot conduct business in your usual place of business, you should ensure you have access to your passwords and other information you need to conduct transactions. If there are services you rarely use, it is a good practice to regularly test these functions so you are prepared to use if needed.

Click below to learn about our digital products:

Financial Impact to Our Customers:

If you are financially impacted due to the Coronavirus crisis, please call our Customer Service Center at 800.618.BANK (2265).

Business Continuity

Federally regulated businesses, such as Unity Bank are required to have a business continuity program. Unity has a comprehensive business continuity program that is not only reviewed by federal auditors but internally audited, tested and updated by the Bank and third parties.