Citizens National Bank announce on Friday that 100 percent of the loans its customers requested through the Paycheck Protection Program have been approved through the Small Business Administration, according to Eric Faulkner, bank president.
This represents 652 businesses in the bank’s 10-county service area, allowing those businesses to continue payroll for 12,524 employees. The approved loan total is currently $97,511,807.
“While there were many uncertainties and difficulties going into this program from the SBA, our loan processors and business banking officers really pulled together to develop a system that enabled us to process the applications as smoothly as possible,” said Faulkner.
“ I’m so proud of the assistance we were able to provide our small business customers in order to procure the funds they need to maintain payroll and keep their business afloat.”
He added that customers were very complimentary of the attention and service they received from CNB throughout the loan process.
