Bank of Luxemburg has processed more than 400 Paycheck Protection Program (PPP) loans to support local businesses and nonprofits including 25 churches. The government-issued program provides Small Business Association loans that help businesses keep their workforce employed during the COVID-19 crisis.
The PPP loans added up to making a big difference—reaching just under $30 million—and supporting more than 5,500 jobs in the Luxemburg, Casco, Dyckesville, Algoma, Kewaunee, Green Bay and Sturgeon Bay communities.
“We understand this is a crisis situation for most businesses, especially our small local establishments,” said Bank of Luxemburg President Tim Treml. “We have worked diligently to educate ourselves on the program and help as many businesses as possible … some which may have even been turned away at their own banks.”
Like many financial institutions, Bank of Luxemburg has been inundated with Paycheck Protection Program requests and applications.
“Knowing time is of the essence, our employees have been working long hours, going the extra mile to process loans quickly,” Treml shared. “For example, a number of our dedicated employees worked nontraditional hours including until 3 a.m. in some cases to secure funding for the bank’s clients.”
While there have been reports of many other banks no longer accepting applications, Bank of Luxemburg still has money to lend. Businesses interested in learning more about the Paycheck Protection Program can call Bank of Luxemburg at 920-845-2345 and ask to speak to a commercial lender.
“Our mission is to have a positive impact on people’s lives and we’re honored to still be able to do that, even in trying times,” Treml added.
Offering full-service personal and business financial solutions since 1903, Luxemburg Bancshares, Inc. and Bank of Luxemburg have banking offices in Luxemburg, Green Bay, Dyckesville, Casco, Algoma, Kewaunee and Sturgeon Bay. For more information visit www.bankofluxemburg.com. Member FDIC. Equal Housing Lender.