Chestertown, MD, May 1, 2020 – As the second round of the Small Business Association’s Paycheck Protection Program comes to a close, The Peoples Bank is elated to say they were able to assist 112 small business customers in obtaining PPP loans to weather the COVID-19 crisis.
After a daunting start to the program, The Peoples Bank’s lenders were able to quickly recover for the second round and help every customer who approached them get their loan into the system and funded. Lenders overcame a problematic submission site as well as confusing guidelines from the SBA to help The Peoples Bank’s small business customers, including those that sought out the Bank after trying and failing at their large-scale banks, obtain over $6.5 million in loan funding.
“I would like to thank the all of the staff involved for their tireless efforts, perseverance and determination to help our customers during this challenging time,” said David Bowman, Chief Lending Officer and Senior VP of The Peoples Bank. “Having every customer who asked get the help they need is a huge badge of honor for this team and I couldn’t be more proud.”
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