July 9, 2020
Avidia Bank Assisting over 1600 Local Businesses by Providing $190 million in Funding Through PPP Loans
During the COVID-19 Pandemic, many area businesses have struggled to provide paychecks to their employees and keep the doors to their business open. With the Paycheck Protection Program (PPP) provided by the Small Business Association (SBA), Avidia Bank is working on helping more than 1691 local businesses with over $190 million in relief funding through PPP.
To learn more and fill out an application, click here.
The Paycheck Protection Program offers forgivable loans worth up to $10 million to help companies survive the COVID-19-induced recession by providing them with funding to pay employees and help with some operating costs.
Avidia Bank commercial bankers are working around the clock and have approved over 1600 applications for PPP relief funding. In addition to PPP, the Bank has also offered various payment modifications, deferrals, fee waivers and skip-a-payment options to both consumer and commercial customers.
Applications taken for the PPP program came from bank customers and non-customers within the community we serve.
“Our customers really need this to keep their businesses going and as a community bank, it’s our responsibility to support them.” Said Avidia Bank President and CEO, Mark O’Connell, “we hope that this will help our community and region continue to grow during this challenging time.”
The Bank used email, social media, direct calls to business owners and their COVID-19 Resource webpage to let businesses know that it was going to participate in the program.
What businesses are saying about Avidia Bank:
“I was provided competent, accurate and extremely helpful guidance during my PPP application process. Everything accomplished in exactly one week! Getting my loan approved and guaranteed alleviated a great deal of stress. I am forever thankful.” -Debby
“I have referred Avidia Bank 5 of my clients looking for help with their PPP. It has been FANTASTIC – thank you!” -Jeff
“Thank you Marcy and Sharon for outstanding, over-the-top customer service!”-Karen
“I’m an Avidia Bank customer. They’ve been very helpful with this pandemic.”-Kevin