The recognition shows the Bank’s steadfast commitment to customers through economic challenges spurred by the pandemic.
Capital Bank, N.A., has been named a 2020 silver winner in the “Most Customer Friendly Business of the Year” category by Best in Biz Awards, the only independent business awards program judged each year by prominent editors and reporters from top-tier publications in North America.
This recognition came as Capital Bank addressed the needs of the businesses in their community who were suffering from the pandemic working directly to build a customer-focused response helping 1,255 small businesses secure nearly $239 million in Paycheck Protection Program (PPP) loans. The Bank developed, in the space of only five days, a secure, easy-to-use portal to which PPP applicants could upload their SBA-required documentation. At the time the Bank staff worked long hours, including nights and weekends, to ensure that applications were successfully submitted to the SBA for loan authorization, even while SBA developed and refined its procedures and technology. After the first round of PPP funding was exhausted, the Bank prepared rapidly for the second round, automating workflow and making the application process easier for customers.
“Our message to business owners has been simple — not only during the COVID-19 crisis, but year-round: ‘We’re here for you, no matter what’,” said Capital Bank CEO Edward Barry. “At Capital Bank, people matter, small businesses matter, and communities matter. Our customers know they have a true partner dedicated to their success.”
Capital Bank and its employees consistently pull together and move mountains because it is an entrepreneurial organization that specializes in serving entrepreneurs. It recognizes that each customer is unique, and creates custom solutions to meet customers’ needs. The Bank puts everything on the line in service to customers and to its core belief that every business stands for something special.
Since the Best in Biz Awards program’s inception in 2011, winners have been determined based on scoring from independent judging panels assembled each year from some of the most respected newspapers, TV and radio outlets, and business, consumer, technology and trade publications in North America. Combining top editors’ and reporters’ unparalleled expertise and experience with the objectivity inherent in the journalistic ethos and further enhanced by the variety of outlets represented, Best in Biz Awards judging panels are uniquely able to determine the best of the best from among the hundreds of competitive entries. The 2020 judging panel included, among others, writers from Barron’s, Consumer Affairs, USA Today and Wired.
About Capital Bank
Capital Bank, N.A., is the fifth largest bank headquartered in Maryland. The Bank has been providing financial services since 1999 and now operates branches in five locations in the greater Washington, D.C./Baltimore metro area. The Bank is a wholly-owned subsidiary of Capital Bancorp, which had assets of approximately $1.9 billion at September 30, 2020; its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.”
About Best in Biz Awards
Since 2011, Best in Biz Awards has been the only independent business awards program judged by a who’s who of prominent reporters and editors from top-tier publications from North America and around the world. Over the years, judges in the premier awards program have ranged from Associated Press to the Wall Street Journal and winners have spanned the spectrum, from blue-chip companies that form the bedrock of the global economy to some of the world’s most innovative start-ups and nimble local companies.
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