Banks Stand Ready To Help

The SBA’s lending program allows businesses with fewer than 500 employees to obtain loans to continue providing paychecks to their employees while the business is closed. Congress initially allocated SBA $350 billion to provide in loans and then approved an additional $320 billion.  Banks are the facilitators of those loans making sure small businesses get the money they need.

• Mississippi banks rate top in country for PPP loan success
• Community bank helps hundreds of small businesses access PPP loans
• We were economic first responders
• Following messy start, enormous Paycheck Protection Program shows signs of buttressing economy
• Community bank acts quickly to provide small businesses with PPP funds
• Rising to the challenge: What small businesses are saying about PPP
• PPP by numbers: where the SBA’s aid has helped the most

Banks are helping to make sure individuals receive their economic impact payments from the government, facilitating transfers to those with existing bank accounts and setting up accounts for those who may not have them.

• Oklahoma bank provides early access to stimulus checks
• Economic impact payments extend a lifeline to households
• Partial list of banks that offer online accounting openings
• Five major banks in Illinois allow non-customers to cash stimulus checks free of charge

Banks continue to provide customers with information on identifying and avoiding scams. Especially in times of stress, banks are diligent about alerting customers to possible scams and providing tips on how to avoid them and what to do if you spot one.

• Tips from Utah Bankers Association of how to spot scams
• Top five economic impact payment scams to watch out for
• Tips from Maine bankers on avoiding the hook
• Old National Bank: Be alert to these coronavirus scams

Banks are the lifeblood of communities in times of both calm and crisis. In the midst of the pandemic, banks are stepping up to provide even more support for the communities they serve from donating to food banks to volunteering their time and resources.

• Chicago Bulls and BMO Harris Bank donate 10,000 face coverings to community partners
• Bank of America issues $1B bond for Covid-19 relief efforts
• Upholding “community” in community banks
• Washington Savings Bank donates $20,000 to local organizations impacted by the COVID-19 pandemic
• Hancock Whitney donates $110,000 to help area families stay in their homes

Banks are essential businesses and are making sure they’re here for their customers even in a time of stay-at-home orders. Banks are taking precautions and adapting their procedures to provide customers with the same great service, even more cleanly and safely.

• Banks supplement benefits to help employees affected by coronavirus
• Local bank helping residents “reCOOP” during COVID-19 Pandemic
• Hampton Roads banks pivot to helping customers avoid financial ruin during crisis

View more of how banks are helping the communities and customers they serve.