Choice Bank, a Midwest business bank, recognized the significant impacts the COVID-19 pandemic would have on its customers. To provide updates, information and transparency, they created a landing page where customers could find helpful links and resources pertaining to their physical and financial health. When the Payment Protection Program launched, Choice Bank focused on securing funding for their business clients.
In the first round of PPP loans, Choice Bank employees worked together to secure funding for over 2,000 businesses—ultimately protecting over 22,000 jobs in their community. They funded loans ranging from $2,500 to $5 million, totaling over $400 million in support. Out of Choice Bank’s 420 employees, 75% worked on some part of the PPP loan process. They processed 4,000% more in SBA loans than in a typical year, which was no small feat, to make the lives of their customers and community members easier.