When COVID-19 turned the world upside-down, many local businesses and community organizations that were forced to close faced an immediate need: funds to cover payroll. At Oregon Pacific Bank, our team was ready to do what it does best – help the community.
In this video, Brian Steffen, CEO of the Eugene Family YMCA, shares the struggle they endured trying to secure a paycheck-protection loan with their previous bank and the relief they found when they turned to Oregon Pacific Bank and were approved.
“They stepped forward when we had a lot of uncertainty. They met all of our needs quickly and responsively and they helped us stabilize during a most unstable time,” Brian says.
In the days that followed, the Eugene Family YMCA was able to cover its payroll and provide emergency childcare for families, wellness check-ins for members, and online fitness classes for the community.
In all, Oregon Pacific Bank loaned more than $123 million to 685 local businesses and nonprofit agencies during the initial round of the U.S. Paycheck Protection Program, processing 100% of its applications. Part of the CARES Act, these forgivable loans provide a direct incentive for businesses and nonprofits to keep workers employed during the crisis. During the first round of loans, our bank helped ensure that more than 14,000 local jobs were retained.
Learn how we can help you and your nonprofit or business succeed by completing this form or giving us a call at 833-261-9558.
