Currently, the United States (along with the rest of the world), finds itself amid the worst recession since the 2008 housing crisis. Now more than ever, Troy Bank & Trust is committed to providing relief to citizens and small businesses across Alabama.
While some institutions tighten their purse strings, our bankers strengthen the ties created with our communities. It’s our duty to maintain open lines of credit, loans, and other relief packages such as the Paycheck Protection Program.
Today, we’ll cover everything you need to know about Troy Bank & Trust’s efforts in keeping small businesses afloat throughout the pandemic and beyond.
The Paycheck Protection Program
Headed by the federal government and as part of the CARES Act, the Paycheck Protection Program leads the way in disseminating relief to small businesses across the country. The Paycheck Protection Program (PPP) ensures that your business retains crucial staff.
We learned quickly that some of the biggest banks experienced trouble delivering the PPP loans. With millions of small businesses clamoring for limited funds, big box banks have struggled to remain organized or to ensure that PPP money ends up in the right hands.
Local independent banks like Troy Bank & Trust have real roots in the community. We know the small businesses across Alabama, and your businesses know us. These relationships are predicated upon what lies in our very name: Trust. You know we will get the money to you in a timely, precise manner.
Working together to keep Alabama’s small businesses afloat
Our banking staff wants more than anything to see our local small businesses succeed. That’s why, along with staying connected with us here at Troy Bank, we urge you to keep tabs on any updates and changes regarding PPP loans. In addition, Troy Bank & Trust will help your small business:
- steer clear of fraudulent communications attempting to gain private company information.
- keep you updated on the latest PPP news.
- provide all the details of the PPP loan, such as loan amounts and requirements.
For that matter, you can rest assured that Troy Bank & Trust will provide up-to-the-minute information and get you started with the PPP process swiftly and responsibly.
Troy Bank’s loan programs and credit lines remain wide open
For many small businesses across Alabama, the PPP loans simply aren’t enough. They might help retain key staff, but there isn’t enough liquidity to close the widening gaps between revenue streams.
As always Troy Bank & Trust is committed to keeping open our loan programs and lines of credit. You can always contact us to speak with one of our representatives about the right loan or credit line for your business. Please visit our loan and credit offerings online, where you can find more information about how Troy Bank can work with your small business.
As a Small Business Association (SBA) lender, we hold dear our commitment to maintaining relationships with small businesses. From merchant credit lines to standard business loans, you can count on Troy Bank for the liquidity that your small business needs–immediately.
Looking past the pandemic
It warms our heart to know that, all over Alabama, the backbone of the American economy can look to Troy Bank & Trust for direct assistance and guidance. We look forward to working with your business as we struggle through this difficult time together.
One day the pandemic will be behind us. We can’t stress enough that this will not mark the end of our commitment to helping sustain the small businesses in need of relief. Please stay tuned to Troy Bank & Trust as we forge along this difficult path so that you’re apprised of any news or announcements.
Find out more about relief packages and loans with Troy Bank & Trust
As a local independent bank, banking with us means you’re also helping your local economy, and we make your banking experience more accessible. In this time of need, you can count on us to deliver the loans and liquidity your small business needs to continue thriving past the pandemic. After all, we are “the only bank you’ll ever need.” For more information on working with us for your business needs, visit Troy Bank & Trust here, or reach out to us by phone at 334-566-4000 or 888-258-8769.