First Service Bank - Paycheck Protection Program
Greenbrier, Ark, (April 10, 2020) – At First Service Bank, we understand that the current economic crisis as a result of the COVID-19 pandemic has put a strain on many small business owners. “We commend the US Treasury and the Small Business Administration on their efforts in putting the Paycheck Protection Program (PPP) in place to help preserve the small businesses of America, which have a huge impact on each of our communities,” said Tom Grumbles, CEO and President of First Service Bank.
“First Service Bank is actively taking applications and making loans under the Paycheck Protection Program authorized under the CARES Act. Within 24 hours starting April 3rd, First Service Bank took almost 100 applications for over $9,000,000 in relief loans for small businesses,” said Kenneth Barnard, CFO of First Service Bank.
Effective Friday, April 10, we will be able to accept applications for an expanded group of independent contractors and self-employed individuals. There continue to be questioned on eligibility, qualified expenses, enrolled lenders, and how to take advantage of loan forgiveness provisions as the US Treasury Department and Small Business Administrations work diligently to get program guidance out daily. It is important to take action now and get with your lender and accounting professional to seek guidance on your application.
As community spirit is at the center of our core values, we believe that if our communities thrive, we all thrive. First Service Bank is committed to helping you through this tough time by offering financial relief options, including the PPP loans. We are dedicated to processing these loans timely so that you can get back to running your business, retaining and paying your staff, and taking care of your customers.
For further information or if you would like to apply for a PPP loan, please visit our website at https://firstservicebank.com/loans/sba or call at 501-679-8000.