Nebraska Bankers Association Recognizes Members for Providing PPP Loans
The Nebraska Bankers Association (NBA, nebankers.org) members made more than 83% of the Paycheck Protection Program (PPP) loans to Nebraska businesses in the wake of COVID-19. Companies in all 93 Nebraska counties turned to a Nebraska bank when applying for a PPP loan. All told, nearly 45,000 PPP loans were made to Nebraska businesses, providing more than $3.4 billion in assistance and helping retain more than 330,000 jobs!
“The success of PPP in Nebraska is a testament to the collaborative relationship that exists between our Nebraska banks and their small business customers,” said NBA Chairman Chris Hove.
The loan program was part of the CARES Act pandemic relief legislation. Eligible businesses received funds to pay eight weeks of payroll costs and business overhead expenses. Nebraska banks worked around the clock to process the loan applications and deliver funds at a critical time for Nebraska businesses. NBA’s new video and marketing campaign highlights the work of its member banks to provide PPP loans to their small-business customers. Selected PPP loan recipients share in the videos how their banks were there for them when they needed it most.
Founded in 1890, the Nebraska Bankers Association is the voice of Nebraska’s $77.9 billion banking industry, which comprises small, regional, and large banks that together employ more than 15,000 people and safeguard nearly $67.1 billion in deposits. Learn more at nebankers.org.