First Citizens Bank Helps Nearly 23,000 Business Clients Access SBA Paycheck Protection Program Funding
May 14 2020 - 10:08AM
First Citizens Bank today announced it has helped nearly 23,000
businesses across the company’s franchise secure loans totaling
$3.2 billion through the SBA’s Paycheck Protection Program.
“Taking care of our customers is our promise – it’s who we are,
especially during times like these,” said Chairman and CEO Frank
Holding. “I’d like to thank our clients for their patience and
trust in us as we’ve navigated this process and the unusual
operating environment. I’d also like to thank our associates for
diligently working day and night to help businesses access this PPP
funding. It’s been an incredible display of teamwork and
dedication, and we’re grateful for the opportunity to support small
businesses and their vital role in the communities we serve.”
The Paycheck Protection Program, part of the CARES Act (the
Coronavirus Aid, Relief, and Economic Security Act) passed by
Congress, was created to provide emergency relief for small
businesses impacted by COVID-19. Specifically, it was designed to
provide capital to businesses with 500 or fewer employees to help
them meet their short-term ongoing expenses, including payroll.
Founded in 1898 and headquartered in Raleigh, N.C., First
Citizens Bank serves customers at more than 565 branches in 19
states. First Citizens Bank is a major subsidiary of First Citizens
BancShares Inc. (Nasdaq: FCNCA), which has more than $41.5 billion
in assets. For more information, call toll free 1.888.FC DIRECT
(1.888.323.4732) or visit firstcitizens.com. First Citizens Bank.
Forever First®.
Contact: Barbara
ThompsonFirst Citizens Bank919.716.2716
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