Paycheck Protection Program Helps Save over 41,000 Jobs
Amarillo National Bank announced Tuesday that with the help of the Paycheck Protection Program over 41,000 jobs were saved.
The bank says that over $279 Million in loans have been funded for 1,111 local businesses.
“The jobs we are helping save is the most exciting part.” says William Ware, President of Amarillo National. “Our team has never worked harder and is proud to know they are helping the economy.”
The program covers payroll expenses for two and a half months for business who need it and if certain criteria are met by the business, the loan will be forgiven by the SBA.
In addition to the PPP loans, Amarillo National Bank is offering many concessions to its customers to help them during this crisis including: deferrals on installment loans up to 60 days, home loan assistance, waiving fees, and stopping all repossessions and foreclosures for 60 days.
The bank has granted over 2,500 loan deferrals and modifications for customers affected by Covid-19.
