NBSB’s Business Center Helps 219 Businesses with PPP Loans, totaling $11.3 Million
Working into the late evening hours, over weekends, NBSB Business Lenders answered the calls
North Brookfield Savings Bank makes it a priority to be there for their customers old and new, and their communities, always, and more importantly, when it matters most. This is far more evident this year, as the country fell victim to the COVID-19 pandemic and most community businesses were faced with the harsh realities of closing their business doors, losing much needed revenue and laying off employees. Then, the now well-known Small Business Administration (SBA) Paycheck Protection Program was announced and North Brookfield Savings Bank was there to help. As of July 9th, NBSB Business Center has helped 219 businesses obtain PPP loans, totaling $11.3 million.
Initially, the Paycheck Protection Program was complicated and had many vital details still unanswered. Regardless, the North Brookfield Savings Bank Business Center Team were all in and ready to be of service. Business lenders immersed themselves in learning about the program, answering calls and emails late into evening hours, and over the weekends, helping business owners who were stressed, worried and not sure where to turn or begin. Many businesses, when trying to obtain a PPP loan with their current financial institution, were turned away for various reasons, making the process all the more stressful. To top it off, many business were facing having to simultaneously revamp how they were doing business since they could not allow customers into their facilities. The NBSB Business Center Team was there to ease business owners concerns, answer their questions, release them from some stress, and guide them through the PPP loan process.
“The pandemic hit my business hard. Being a speaker at events, conferences, and in person trainings, the ability to do any of that kind of work was cancelled and I watch thousands of dollars in business disappear. North Brookfield Savings Bank was my life line. I was not even a client of NBSB when I reached out to them for a PPP Loan. I had interestingly enough been turned down from my Bank that I had done business with for 30 years,” said Founder of Rita Schiano, Live a Flourishing Life, a personal professional development, training & coaching company. “Within a half hour of filling out the application I received a call from Rick Egan, and within a matter of a few days I received an email that my PPP loan had been approved. About a week later, I had the money in my account and I cannot tell you how that gave me the ability to feel like I could breathe again.”
Rita continued, “The folks at NBSB could not have been more helpful, more understanding, really making sure that when it comes to the loan forgiveness process that I have all of the information I need. They really gave me the guidance for every step along the way. I am so thrilled to have moved business to North Brookfield Savings. If you are a small business owner, and now that PPP has been extended, reach out to North Brookfield Savings Bank.”
With the most recent extension to accept PPP application moved out to August 8th, North Brookfield Savings Bank is still helping day and night to give community business the support they need during this challenging time. Thankfully, now many of the details of the PPP loan and the forgiveness details have been finalized, giving much desired clarity to both the lenders and business customers.
During this entire process, to help answer questions for the public, North Brookfield Savings Bank made it their mission to create a comprehensive, all-inclusive COVID-19 resource center. This included a detailed breakdown not only on the Paycheck Protection Loan Program itself, but also all of the important details on how business should prepare for PPP Loan Forgiveness – an important and confusing element of the PPP loan. Online applications were made readily available for those applying for the PPP loan and PPP loan forgiveness.
North Brookfield Savings Bank’s Business Center provides its customers with the attention, detail and care that they deserve, and with over 127 of combined lending experience among its team, they have no shortage of knowledge to help business customers and meet their business banking needs. The Bank’s primary Business Center location at 40 Main Street in Ware, MA is a full service location, however lenders frequently travel to the destination most convenient for the business they are assisting.