Mid Penn Bank and its divisions have a team of top professionals ready to assist small businesses in securing desperately needed, forgivable loans that will be funded by the newly passed federal stimulus law, also known as the CARES Act.
As part of the CARES Act, the federal Small Business Administration (SBA) is administrating the newly created, $349 billion Paycheck Protection Program. Mid Penn Bank will be working with customers to secure loans up to $10 million for small businesses with 500 or fewer employees that can be eligible for forgiveness if the company retains its employees during the pandemic.
“We’ve put together a great team that is prepared right now to help our customers and other businesses apply for the funds they need to stabilize the companies they’ve built,” said Mid Penn Bank President and CEO Rory Ritrievi. “Mid Penn’s team and our track record working with customers through the SBA program means we will immediately begin plotting a course for businesses to take advantage of this critical new program.”
Working in conjunction with its divisions – Scottdale Bank & Trust and First Priority Bank – Mid Penn has been designated a preferred lender with the SBA. In 2019, Mid Penn Bank was ranked as the top community bank producer of SBA loans in the Eastern Pennsylvania District.
The Mid Penn Bank Paycheck Protection Program lending team is led by Natalie Falatek, First Vice President and Director of SBA/guaranteed lending. In 2019, Falatek completed the prestigious 7A Accreditation through the National Association of Government Guaranteed Lenders (NAGGL) Advanced Lender Diploma Program. She is one of only 49 lenders in the country to earn the 7A Accreditation.
“Natalie and her team rolled up their sleeves and got to work before the legislation was signed into law,” Ritrievi said. “Our nation, the job creators, and communities will overcome this pandemic and come back stronger than ever. That process starts now, and Mid Penn has a team in place ready to help businesses protect their future and employees with the Paycheck Protection Program.”
For more information, or to get started on securing a loan from the CARES Act Paycheck Protection Program, please contact Natalie Falatek at 717-692-7118 or [email protected].
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