Payroll Protection Program Update
Thursday April 16th
The Wall Street Journal published the following story on the PPP Loans.
WASHINGTON—A $350 billion loan program for small businesses hurt by the coronavirus pandemic ran out of money Thursday morning as Republicans and Democrats continued to disagree over how to replenish the funds.
The Small Business Administration, which administers the new program, wrote a message on its website that it couldn’t accept new applications for the Paycheck Protection Program or enroll new lenders.
Republicans want to approve $250 billion more for the loans, before moving on to other aid and stimulus proposals. Democrats want to make changes to the small-business program and include money for hospitals, state and local governments, and food assistance recipients alongside it.
We can work with you on the PPP (Payroll Protection Program) Loans which are part of the Federal stimulus package.
Please call us at 217.795.2331 or email us at Loans@gerberstatebank.com to discuss your needs.
The link below will take you to the Treasury website with more information on the PPP loans.
Should you need to make an appointment to visit the bank we are sharing the procedures we have implemented to protect you, our employees and our communities. Please call us with any questions or to schedule an appointment.
Argenta 217.795.2331 Oreana 217.468.2330
Coronavirus (COVID-19) Update for our Customers
In order to help protect our customers, employees and communities we are temporarily suspending our lobby services at both our locations – effective Thursday, March 19 until further notice.
While our lobbies are closed you will still be able to transact business through our drive-ups, ATMs, online banking and by calling our offices. Our Night Drop services are operating as normal.
For Loan, New Account, Safe Deposit Box or Trust services please call us for an appointment.
Our team is prepared to continue serving all your banking needs and is ready to do so. Do not hesitate to call us to discuss any needs you may have.
Argenta Office: 217.795.2331 Oreana Office: 217.468.2330
A Note to our Customers about the Coronavirus
The Gerber State Bank wants to assure you of our preparedness during the ongoing concern about the coronavirus. We are closely monitoring the guidance from the Centers for Disease Control and Prevention (CDC) and have taken several precautionary measures for the health and safety of our customers, employees, and the communities we serve.
During this challenging time, we recommend leveraging our online banking services where you can check balances, transfer funds, and get account history. If you are not enrolled in online banking and need assistance, please contact us at 217.795.2331.
Please know we are here to help, and we encourage customers who may face financial difficulties due to this situation to contact us so we can discuss how we might be of assistance.
We will continue to monitor developments regarding the coronavirus and will take appropriate steps to avoid potential disruptions in our service. Your safety is our highest priority, and we appreciate the trust you place in us.
President and CEO
The Gerber State Bank