The Paycheck Protection Program (“PPP”) loan application process hit banks with a bang in Central Alabama in Spring 2020.
Thousands of business owners turned out at banks in droves, looking to prop up their businesses during the COVID-19 pandemic and subsequent loss of revenues. Many were actually turned away from financial institutions they’d been working with for years. Still, other banks were taking up to 30 days to complete and submit PPP loan applications.
It was the ultimate stamina test for our people at NobleBank & Trust – one we stepped up to straight away – and the results of our hard work were astonishing. But this should not be a surprise to anyone. As a Biblically-principled community bank, NobleBank’s mission and core values drove us to answer the call for many businesses in Central Alabama, just like we’ve always done.
NobleBank’s Code of Ethics Prepared Us for the PPP Loan Application Crush
A critical piece of our bank’s Mission Statement reads: “We are the bank of choice because we exceed customer expectations with every contact and every transaction.” Our mission is to serve consumers and businesses in a Godly way, so it’s no accident that we were able to respond to the PPP loan application rush in a fast, friendly, and professional manner.
Hannah Downing, Marketing Officer with NobleBank, says of their culture and values: “During the time I’ve been at NobleBank, I have been blessed to be around some of the brightest, kindest people I’ve ever worked with. NobleBank really puts our values to work in the everyday customer interactions I witness. Working hard to get our business customers what they need is a driving force behind our behavior.”
The PPP Loan Application Rush: Processing Record Numbers of Applications
When the PPP Loan Application was rolled out for banks to handle in late April 2020, there was an onslaught of businesses rushing to local banks to apply. And boy, banks throughout the United States were unprepared for the fallout! Website crashes and other technical glitches were common. Loan officers falling short of loan application deadlines. The banking industry struggled to keep up with the demands of businesses everywhere.
But out of nowhere, NobleBank stepped up to the plate in a big way. Although no one could have predicted the surge of demand that accompanied the PPP roll out, employees of all areas of NobleBank – from our business bankers, loan officers, HR, and marketing teams all the way up to the CEO – worked tirelessly to meet the needs of our local business community. During the early days of the PPP loan application process, we often toiled into the early morning hours and round the clock in some instances, making sure our customers’ loans were handled professionally and timely. In fact, NobleBank put together a ridiculously large number of loans – a huge ratio compared to other banks in the Central Alabama region.
And throughout this process, business owners were frantic, scared, and angry. Frantic that this out-of-the-blue pandemic was impacting their revenue so hard. Angry at their banks who refused to process their PPP loans. Scared that they would be forced to go out of business. We would literally get frantic phone calls from tearful local business owners whose regular banks wouldn’t help them.
To say it was a tough time for our local business community is an understatement.
Where Do You Rank With Your Bank?
The point of this article is to point out that there’s nothing NobleBank won’t do to help and support the local business community of Central Alabama, during any best and worst of circumstances.
If you happen to be one of those business owners who were turned away from your bank during the PPP loan application process, you should be asking yourself: where do I rank with my bank?
Says Hannah Downing, “We really went out of our way in a big way to process PPP loans for anyone and everyone who wanted to apply. It was really neat to see how our entire team pulled together. We actually developed closer relationships with each other internally, because we worked so late and were chatting with each other constantly so we could keep up.” She adds, “That is just the way we do things at NobleBank. I mean, when it comes to ‘living your values,’ everyone here strives hard every day to measure up.”
It’s time for you as a business owner to trust your banking needs with a bank like NobleBank. You will have the peace of mind that your needs will be taken care of in a manner that meets and exceeds your expectations.
Your banker will know you by name, know your children’s names, and know a great deal about your industry and what you really need at your stage of growth. With banking technologies rivaling “the big banks” and a Godly-focused desire to serve, NobleBank is a superior banking choice you won’t find anywhere else. We stake our reputation on it.
Trust Your Business Banking Needs to NobleBank & Trust
NobleBank’s slogan: Friendly. Proactive. Professional. A community bank with “big bank” services and technologies, NobleBank meets the needs of our community and builds value for our customers in a way you won’t find at other banks. Click here to find a location throughout Central Alabama near you, or give us a call for a consultation that addresses your business unique needs at 256-741-1800.