GREEN BAY, Wis. (WFRV) – A local bank is successfully approving small business loans to help local businesses stay afloat during the coronavirus pandemic.
Local 5 spoke to Associated Bank President and CEO Phillip Flynn about what he’s calling a mission, to issue loans throughout their markets in Wisconsin, Illinois and Minnesota.
Flynn said since April 3rd, the bank has approved more than 6,100 loans for more than one billion dollars. Since Monday, when the Paycheck Protection Program was given another $310 billion for small business loans, Associated Bank has approved roughly 2,400 loans.
In the Green Bay and Fox Valley area alone, they have issued 450 loans worth about $125 million.
Flynn says that the community and their customers are what keep them going, and the colleagues at Associated Bank are doing their part;
“This is more of a mission driven effort on our part and on the part of my colleagues who I’m really proud of stepping up to do this,” said Flynn.
In each application, the applicant must specify how many jobs would be protected with a loan – from the loans given just by Associated Bank – more than 100,000 jobs will stay on a particular businesses payroll.