FARMINGTON HILLS, Mich., - Level One Bank, a leading community bank in Michigan, has announced it will be assisting local business owners with applying for the second round of the Small Business Administration’s Paycheck Protection Program (PPP). On Tuesday, January 19th, businesses can begin applying for PPP funds that will be available to new and existing PPP borrowers, including non-Level One Bank clients.
During round one of the PPP in 2020, Level One Bank helped more than 2,000 small businesses gain access to over $400 million in PPP loans, supporting the jobs of over 30,000 employees in Michigan.
Once again, Level One Bank will be helping local businesses secure the financial relief they need during the PPP second round. Level One Bank is encouraging clients and non-clients to apply.
“As a Michigan-based community bank with an entrepreneurial spirit, Level One Bank is committed to helping local small businesses acquire the funding they so desperately need,” said Gregory A. Wernette, EVP and Chief Lending Officer of Level One Bank. “We’re here to be a resource to our fellow entrepreneurs, helping them to withstand continuing financial challenges related to the pandemic.”
Community banks like Level One Bank played a vital role in the first round of PPP. Level One Bank’s responsiveness and relationship-driven approach to lending allows for quick decision making and providing solutions for small businesses that might otherwise be turned away by larger financial institutions.
Congress has authorized $284 million in loans for eligible small businesses during this second round of PPP. Businesses can easily apply online with Level One Bank at www.LevelOneBank.com. Additional information about the PPP can be found at www.sba.gov.