MCCALL, Idaho, April 06, 2020 (GLOBE NEWSWIRE) -- Idaho First Bank announced today that they began taking applications and funding loans for customers in need of the Paycheck Protection Program funds.
As part of the U.S. government’s economic stimulus plan, the Paycheck Protection Program is aimed at helping small businesses retain workers and pay necessary bills during the current pandemic conditions.
“Small businesses are the backbone of this country’s economy and we, as a community bank, understand that better than anyone. Our team has worked tirelessly to develop the process to support these businesses immediately, including working on weekends to accommodate the critical need of our customers at this time,” stated Greg Lovell, President and CEO of Idaho First Bank. “We have already started taking loan applications and funded our first loans. I can’t tell you how rewarding it is to be able to help our business customers get the funds they need quickly to sustain through this unusual time in our country.”
The loan application process is straight-forward and bank staff are available via email or phone to walk customers through the process. Although many banks have stated that they will support any and all small businesses, most will fulfill loan applications for their existing bank customers first before taking on additional loan applications.
The Bank encourages all applicants to have their documentation ready for the application process and to read directions thoroughly, which can be found at www.sba.gov/funding-programs/disaster-assistance.
For more information visit www.idahofirstbank.com.
About Idaho First Bank
Idaho First Bank is a full service state-chartered community bank established in October 2005 and headquartered in McCall, Idaho. The Bank serves the greater southwest Idaho communities with four additional branches located in New Meadows, Ketchum, Eagle and Boise and a loan production office in Nampa. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information visit www.idahofirstbank.com.
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements. Idaho First Bank has no obligation to publicly update the forward-looking statements after the date of this release. This statement is included for the express purpose of invoking PSLRA’s safe harbor provisions.
CONTACT
Greg Lovell
President and CEO
Idaho First Bank
208.630.2001
glovell@idahofirstbank.com