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Bankers saw ‘tidal wave’ of PPP loans

Bankers saw ‘tidal wave’ of PPP loans

As the COVID-19 pandemic hit and businesses had to close their doors, the federal government introduced the Paycheck Protection Program to provide financial assistance to businesses who were struggling to make ends meet. A certain portion of those funds were designated for community banks because they had a closer relationship with their local businesses and could process loans in a much more timely manner.

The Paycheck Protection Program has certainly presented a unique challenge for all financial institutions. What has been proven these past three months is the ability of community banks like The Bank of Elk River to execute in a way that large regional and national banks just cannot. We are built to be flexible and to respond to the customers on an individual basis. It’s this DNA of a community bank, of our bank, that came through loud and clear when the business community needed it the most.”
- Bill LaVigne, Chief Operating Officer

The Bank of Elk River offers personalized solutions that meet the needs of you and your business.

Click here to read the full article in Elk River Star News.

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Small Business PPP Payment Protection Program

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