Taking Care of Business through the Paycheck Protection Program
Over the past few months, our team has been entrenched in the Paycheck Protection Program process to make sure that each of the more than 5,000 applications we received was processed. And while interactions with our customers were focused on gathering everything they needed to apply, it was about way more than an application. It was about re-learning the story of their business in light of COVID-19. And learning how much this funding would impact how they carried into the future. Every story was different, but every story reminded us of why we exist as a community bank.
Hearing from our business customers has always inspired us, and we hope you are inspired, too.
"The PPP Loan allowed us to maintain our employee headcount without disrupting production on our wide array of products and services. The retention of our employees became even more critical as we partnered with another local company, and two universities to build a new mold, and subsequently run production on a headband, which is part of a full face shield that frontline workers need during the COVID-19 pandemic. This critical supply of PPE will be used in our community as well as hospitals, first responder groups and other medical facilities."
"Once the COVID shutdown began, my business was in a difficult position attempting to continue to pay employees and other expenses. Though I was a new customer with a very small business, this staff took our account very seriously and helped us obtain a PPP loan. I truly cannot express how thankful I am."
We've also heard from a United Way partner who acknowledged that because of all the work we accomplished together through the PPP, they are able to continue putting their efforts and resources into helping address the urgent critical needs of the community.
And the manufacturing company in Pennsylvania who reported they would have to lay off 50% of their workforce between locations in two different states without PPP assistance.
And a wholesaler in Northeast Ohio who was able to halt furloughs and retain 150 employees across two different locations to support adapting their business model to one where their showroom is temporarily closed but they can continue with phone orders and free delivery.
We love sharing stories from our customers and invite you to check out our full Customer Story archive.
Know Your Loan Options
Understand the funding available through the SBA to help you take care of business during this unique time.
Know How to Report Fraud
Being able to report fraud quickly will only serve to benefit you in the long run.