Important Update: Our Grand Avenue location will be closing at 3 pm on Friday, May 29, and will be closed until further notice. ATMs at our Grand Avenue and Randolph locations are unavailable, please visit MoneyPass for an ATM near you. Thank you for understanding.

Click here to learn more about COVID-19 Relief, branch hours, and bank communications.

You are here

Villager Newspaper Article

Villager Newspaper Article

SBA Paycheck Protection Program offers a lifeline to small businesses in the area

Bonnie Alton considers herself one of the lucky ones. The owner of Great Harvest Bread Company, 534 Selby Ave., Alton was able to secure a Paycheck Protection Program (PPP) loan from the U.S. Small Business Administration before the federal program ran out of money and was temporarily suspended on April 17.

The SBA faced a rush of requests when it began accepting PPP applications on April 3. Because the loans were approved on a first-come basis, PPP gave small businesses like Great Harvest a leg up in the funding stampede if they were able to find a bank that could move quickly to process their application.

In Alton’s case, her banking partner was Julie Novak, senior vice president for commercial lending at Bank-Cherokee. “I reached out to Julie and she was three steps ahead of me in getting information from the SBA,” Alton said.

Click here to read the entire story on the Villager newspaper's website.

Date/Time
Apr 29 | 3:45pm
Add to Calendar
Share the News!