Tuesday, October 20, 2020

FFIB Processes $186M In PPP Loans


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First Florida Integrity Bank recently announced that it has secured over $186 million in funding for more than 1570 small businesses through the Small Business Administration’s Paycheck Protection Program. These loans will support over 24,000 jobs within the communities that they serve.  

“We are quite proud we were able to help so many companies along the west coast of Florida from Tampa Bay to Marco Island. The idea of providing the availability of funds to our customers and then down to their employees is what kept us focused on our mission of helping as many companies as we possibly could,” said S.E.V.P. – Chief Lending Officer, Brian P. Keenan. 

Through the two rounds of the SBA’s Paycheck Protection Program, First Florida Integrity Bank has: 

  • Secured more than $186 million in funding 
  • Received approval for more than 1570 PPP loans 
  • Supported over 24,000 jobs 
  • More than 82% of loans approved are for less than $150,000 
  • The median approved loan amount is $33,000 

“As community bankers, our bankers consider themselves as first responders in this war on our economy. Our team worked diligently around the clock to make sure that we are able to secure funds for the many small businesses that are the anchor of our community. We repurposed many employees to help assist through the process of accepting, approving and funding this tremendous number of Paycheck Protection Program loans, and supporting the retention of over 24,000 jobs in the community during this difficult time,” said CEO-President, Garrett Richter. Richter also recognized the efforts of all the banks in the community that participated in this SBA program for our community businesses, as the SBA guarantees the loans, but it is the financial institutions that process and fund the loans. 

First Florida Integrity Bank continues to accept and process loan applications for the SBA Paycheck Protection Program on behalf of businesses, as long as the current round of funding is available. Information on the Paycheck Protection Program application can be found through firstfloridaintegritybank.com. 

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