The coronavirus pandemic has affected different geographies and different people, Groteluschen added.
“Some cities are more locked up than others,” said Groteluschen. “Every American is affected differently, but like Craig said, we really weren’t doing anything in the first quarter of the year and the second half of the second quarter because we literally didn’t know anything. We did not know. You still had the COVID unbelievers who were tough. “
The country understands the situation better now and this round of funding comes as there is more information about who was injured and who was not, he added.
“It is aimed at (the) hospitality industry, as well as anyone who can prove that they have suffered a substantial loss,” said Groteluschen, noting that listed companies are not eligible.
Economic disaster loans have also been expanded, so that a business that received less than the $ 10,000 maximum can reapply.
Previously, the bank had entered into 228 PPP loans, said Consumer Banking vice president Joshua Johnson.
Plus, there are changes to the loan cancellation, Groteluschen said, and anyone with a loan of $ 150,000 or less will have a one-page streamlined application.
Mickey noted that these loans presented an opportunity for fraud and asked residents to be vigilant if they receive phone calls from people they don’t recognize, even though the caller says they are from the institution. financial support of a resident.