Capital Bank, N.A., Helped Hundreds of DMV Small Businesses Secure $173 Million in PPP Loans
Capital Bancorp, Inc. (CBNK)
Last capital bancorp, inc. earnings: 4/30 07:59 am
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Source: PR Newswire
ROCKVILLE, Md., April 20, 2020 /PRNewswire/ -- By the time the federal Paycheck Protection Program (PPP) ran out of money this week, Maryland-based Capital Bank, N.A., had been able to help 597 small-business PPP applicants get Small Business Administration (SBA) authorization for federal aid totaling over $173 million. All but a few of those small businesses are here in the DMV region. The Bank anticipates having the required loan closing and booking details to fund the loans wrapped up in about a week."We of course hope Congress approves additional PPP funding so we can help even more small businesses secure the aid they desperately need," said Capital Bank, N.A., CEO Edward Barry, "but we are elated to have been able to help this enormous number of applicants successfully get through the SBA's process and obtain PPP loans."Barry added that this was truly a herculean effort by Bank staff, involving new website functionality and an all-hands-on-deck customer-service focus on helping
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