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All branch lobbies are open with normal business hours Monday through Friday. Saturday, bank by appointment or with a drive-up teller. Call your branch to schedule an appointment.

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News & Events

Exceptions for PPP Borrowers of $50,000 or Less

On October 8, the SBA released a simpler Paycheck Protection Program (PPP) forgiveness application for small businesses. Under this streamlined forgiveness process, borrowers with loans of $50,000 or less are exempt from reductions in the forgiveness amount based on reductions in full-time equivalent employees, salary, or wages. The application and instructions can be found here:...

GPCOG Small Business Loan Program

Businesses with 25 or fewer employees can access forgivable loans designed to help alleviate the impact of COVID-19 through the Greater Portland Council of Government (GPCOG). Businesses must be located within Cumberland County, excluding Portland, Bridgton and Brunswick. Businesses with 25 or fewer employees can access loans of up to $10,000 – or $2,500 per...

Maine Economic Recovery Grant Program for Small Businesses

  Applications for the Maine Economic Recovery Grant Program are open Friday, August 21 through Wednesday, September 9. The State established the program with federal CARES Act funding to provide financial relief for businesses and nonprofits impacted by the pandemic. The grants will be awarded based on demonstrated need, not first-come first-served. The amount awarded...

SBA COVID-19 Relief Scams and Fraud Alerts

Please be aware of a variety of malicious attempts by cyber-criminals taking advantage of the Small Business Administration (SBA)’s COVID-19 relief efforts to gather sensitive information and steal funds from businesses. Always think before you click! Grants/Loans The SBA does not initiate contact on either loans or grants.  If you are proactively contacted by someone...

PPP Loan Forgiveness Program

The SBA has created two applications – PPP Loan Forgiveness Application Form 3508EZ and PPP Loan Forgiveness Application Form 3508. Please refer to Application Form 3508EZ Instructions for Borrowers and Application Form 3508 Instructions for Borrowers to determine which application should be completed. Additional information regarding the use of SBA Form 3508EZ is also included...

Branch Reopening FAQs

As many Maine businesses prepare to reopen, we are pleased to let you know GSB will soon be implementing its plans to return to normal operations. Below is a list of questions you may have as we begin reopening branches to our customers. 1. Why is Gorham Savings Bank reopening now? The health and safety...

GSB Reopening Branch Lobbies

As many Maine businesses prepare to reopen, we are pleased to let you know that GSB has started reopening our branch lobbies. Like other businesses that serve the public, we will be implementing a phased approach, with customer and employee safety as our primary goal. In addition to  our Yarmouth and South Portland lobbies, which...

Unemployment Insurance Program Targeted by Fraudsters

The US Secret Service is warning of a well-organized fraud ring exploiting the COVID-19 crisis in order to commit large-scale fraud against state unemployment insurance programs. Individuals are receiving multiple deposits from various State Unemployment Benefit Programs. It is assumed the fraud ring behind this possesses a substantial database of Personally Identifiable Information (PII) in...

Portland Small Business Grant + Loan Programs

On May 19th, the City of Portland launched three new loan and grant programs for small businesses.   Business Assistance Program for Job Creation (Rehiring) The City of Portland’s COVID-19 Business Assistance Program for Job Creation (Rehiring) (BAP) provides $5,000 in grant funding to small businesses for rehiring two or more full-time employees that were on the payroll as of January 31, 2020....

Small Business Resources

We’ve compiled a list of resources and links to assistance programs available during the current COVID-19 health crisis.   MAINE ECONOMIC RECOVERY GRANT PROGRAM FOR SMALL BUSINESSES A second phase of the Maine Economic Recovery Grant Program opened on September 23, 2020. Phase 2 will make  approximately $95 million in remaining funds from Phase 1...

Payment Options

Manage your bills and payments remotely with our convenient banking technology.     Zelle® Use Zelle in the GSB Mobile Banking App to send money to almost anyone you know1 – repay a friend or family member using only an email address or U.S. mobile number. Get Started With Zelle   External Transfer Transfer funds...

Current Status of the SBA Paycheck Protection Program

The SBA Paycheck Protection Program closed August 8, 2020 and is no longer accepting applications. If you have questions about an existing application, please contact your lender. Thank you for choosing Gorham Savings Bank as your banking partner for the Paycheck Protection Program.

Coronavirus and Economic Impact Payments: Resources and Guidance

On April 2, 2020, the Treasury Department and the Internal Revenue Service announced the distribution of economic impact payments to help Americans combat the financial effects of the COVID-19 pandemic. If your finances have been impacted by the pandemic, you’re not alone. We’re here to help you understand how you can get your economic impact...

Coronavirus Scams

As the novel coronavirus (COVID-19) pandemic continues to impact the United States, fraudsters have seized the opportunity to prey on businesses and consumers. Scams are coming in many ways – not only through email, but also by phone, text, and social networking sites. They are also taking many forms, from fake Paycheck Protection Program loan...

FAME COVID-19 Loan Relief Program

FAME is offering special terms to eligible Maine businesses that have experienced interruption or hardship due to COVID-19. Various programs include: Direct loans up to $50,000 offered at reduced interest rates; Commercial loan insurance for Maine lenders of up to 75% on loans up to $100,000; and Direct loans of up to $100,000 with special...

Budgeting in a Crisis

When a crisis like COVID-19 hits, the impact it can have on your budget and your lifestyle can be significant. A crisis budget can help you prioritize bills that need to be paid and adjust your daily spending if you have to live on a reduced income. Focus Only On The Necessities: Rent/mortgage Utilities Groceries...

Understanding FDIC Insurance

The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled. The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at...

Remote Banking Options

Manage your GSB accounts remotely with our various banking technology.   Online Banking Access account information, transfer money and pay bills from home. Enroll in Online Banking   GSB Mobile App Manage your accounts from your couch – and take advantage of mobile check deposit. Download for iPhone or Android   Video Teller Machines Touch the screen to speak...

Community Resources

We’ve compiled a list of resources and links to assistance programs available during the current COVID-19 health crisis.   General Assistance Call 211, email info@211maine.org or visit 211Maine.org for a local directory of services, including financial assistance, food resources, housing, health care services, and child care.   Food Assistance  Cumberland County Food Security CouncilCommunity leaders...