Spring Bank secured $86.6M in PPP loans for NYC small businesses and non-profits
When COVID-19 hit, Spring Bank responded by supporting their small business and nonprofit partners when they needed it most. Hours after the CARES Act passed in April of this year, their lending team got to work to assist organizations with their applications for a Payment Protection Program (PPP) loan. Spring Bank is proud to report that as of this month, they secured 360 PPP loans–valued at $86.8 million–for small businesses and nonprofits in the New York City area. With these funds, organizations retained over 5,000 jobs.