updated April 23
We anticipate Congress will approve an additional $310 billion for the SBAs Paycheck Protection Program (PPP) to help provide financial relief to small businesses during the COVID-19 crisis. Banks all over the country are facing tremendous challenges balancing the intensity of the need with a limited amount of government funds that are expected to be allocated even more quickly than the first round.
We are making every effort to help as many business owners in our community as we can, and we are dedicated to processing PPP applications for our customers first.
We value the relationships we have built, and we are focused on upholding our service promises to those who have placed their trust in our bank.
Our immediate priority is to submit applications through the SBA portal for our customers who returned official applications to us but were unable to reserve the original SBA funds in time. Our bankers will continue to assist customers with whom we were working on potential SBA loan applications before funds ran out.
We can assure you that our bankers are working around the clock to process applications, helping thousands of customers organize and submit required information for the PPP. All businesses are essential, as local employers, economic drivers and pillars of our community. We understand each organization is facing difficulty in its own way, and we are doing our best to help in every way possible.