Community Financial Institutions Respond to COVID-19
The funding results for round one of the SBA’s PPP program confirmed our core tenet – responsible, responsive financial institutions are key to healthy communities.
According to covidloantracker.com, small regional lenders disbursed 76 percent of the PPP loans. The mean loan amount was $216,000. The median loan size was $98,500.
We commend these community financial institutions for their efforts. As the adage says “One day when the chips are down, you will know who your true friends are”.