HARRISBURG, Pa., Jan. 14, 2021 /PRNewswire/ -- Centric Bank has opened its portal for the second round of the Small Business Administration's Paycheck Protection Program (PPP) funding, effective immediately to all small businesses in Centric Bank's markets, which include the Harrisburg, Lancaster, and Philadelphia regions, South Jersey, and New Jersey counties adjacent to Pennsylvania.
"Our focus continues to be acting as a lifeline to businesses so they can keep their doors open and sustain their employees through the SBA's Paycheck Protection Program," says President and CEO Patricia A. (Patti) Husic. "In 2020, we were privileged to fund more than 1,850 PPP loans totaling more than $215 million to existing customers and new customers. Now, our portal is once more open and offering full access to all businesses to apply for the latest round of stimulus funding. If you are a small business, minority-owned small business, or woman-owned small business and need information or have questions about the second round of PPP, we have a Centric Bank PPP specialist on call. We stand ready to help all small businesses in the markets we serve."
The latest round of funding includes a second draw option for prior PPP borrowers who have exhausted their initial PPP loan. The program will make new loans through March 31, 2021, or until the new funding is exhausted. Loans above $150,000 must indicate which quarter their total revenues/receipts they are using in 2020 vs. 2019, and the dollar amount of total receipts for both periods.
"Centric Bank has been an approved and experienced SBA lender for many years, and we are positioned to work with all small businesses in our communities and nearby counties to ensure they receive their funds as quickly and simply as possible," says Husic.
ABOUT CENTRIC FINANCIAL CORPORATION AND CENTRIC BANK
An American Banker 2020, 2019, and 2018 Best Banks to Work For, three-time American Banker Most Powerful Women in Banking Top Team, three-time Best Places to Work, and Top 50 Fastest-Growing Companies for seven years, Centric Bank is headquartered in south central Pennsylvania with assets of $1.04 billion and remains a leader in organic loan growth. A locally owned, locally loaned community bank, Centric Bank provides highly competitive and pro-growth financial services to businesses, professionals, individuals, families, and to the health care and dental industries with the Doctor Centric Bank Division. Centric Bank was named one of the Top 200 Community Banks in the U.S. in 2019 and 2020.
Founded in 2007, Pennsylvania-based Centric Bank has financial centers located in Harrisburg, Hershey, Mechanicsburg, Camp Hill, Doylestown, Devon, and Lancaster, as well as a loan production office in Devon and an Operations and Executive Office campus in Hampden Township, Cumberland County. To learn more about Centric Bank, call 717.657.7727 or visit CentricBank.com. Connect with them on Twitter, Facebook, LinkedIn, and Instagram.
Centric Bank is a wholly owned subsidiary of Centric Financial Corporation and is traded over the counter (OTC-Pink) with the ticker symbol CFCX.
Safe Harbor Statement
Except for historical information contained herein, the matters discussed in this release are forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Because of these risks and uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. In addition, our past results of operations do not necessarily indicate our future results. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact: Anne Deeter Gallaher
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SOURCE Centric Bank