Stockman Bank giving PPP loans
Last updated 4/14/2020 at 11:40am
MILES CITY — Stockman Bank announced it has, to date, received Small Business Administration approval of 1,500 loans at a total of $225 million for its business customers across Montana as part of the Paycheck Protection Program, or PPP.
Stockman’s Chief Credit Officer, Bill Bickle, said bankers have been working around the clock.
“Beginning at 1 pm on Thursday, April 2, 2020, our bankers have been working day and night to obtain PPP loans for existing customers, as well as other Montana businesses who needed assistance,” Bickle said. “Our bankers will be working throughout the weekend as there are a number of loan applications in process and more applications are still being received.”
As of Thursday, Stockman Bank had advanced $49 million of PPP loans to 311 customers, with the remaining loans scheduled to be advanced in the next week.
Bill Coffee, CEO of Stockman Bank, said the bank is committed to doing all it can to get these loans submitted, approved, closed and funded for Montana businesses.
“Our customers need these loans to keep their businesses in operation and their employees paid,” Coffee said. “I am so proud of our team who is working such long hours to take care of our business customers.”
Coffee said Stockman business customers should contact their commercial lender at their local Stockman bank if they have questions or need further information.