By the time the first round of federal Paycheck Protection Program (PPP) funding ran out of money, Maryland-based Capital Bank, N.A., was able to help 598 small-business PPP applicants secure Small Business Administration (SBA) authorization for federal aid totaling over $172 million. All but a few of those small businesses are here in the DMV region.
Small-Cap ETFs May Strengthen After PPP Help Community Banks
After facing problems when applying for the Payroll Protection Program through larger banks, small businesses may permanently turn to smaller community banks that have proven to be more accommodating, potentially bolstering small-cap financial sector exchange traded funds. Read More
We Were Economic First Responders
On March 25, 2020, with the COVID-19 pandemic accelerating nationwide and stalking Washington, U.S. senators unanimously passed a $2 trillion coronavirus relief bill. Read More
This Banker Made 1 Year Of Loans In 10 Days. He’s Ready For Another Mad Dash Today
Get ready for another footrace, as struggling small businesses scramble to grab hold of a financial lifeline. The federal government is restarting an emergency loan program for small businesses today, with $320 billion. Read More
NBC4: Maryland Bank Gets Hundreds of Small Businesses Approved for Paycheck Protection Loans
A small community bank in Maryland helped hundreds of small businesses get approved in the first round of paycheck protection program loans. Capital Bank, N.A., knew it had to act fast – and waiting for the government to tell them how this was going to work wasn’t an option. Read More Watch Video
The Washington Post: To Get a Small-Business Loan, Try a Smaller Bank
The borrowers who have been happiest with the Paycheck Protection Program used community lenders, like Capital Bank, N.A., rather than the national giants. Read More
Washington Business Journal: Congress Readies More PPP Funding for Small Businesses
The SBA Paycheck Protection Program is set to get more funding from Congress, but there are still more questions swirling around the program’s details. Capital Bank, N.A., CEO Edward Barry weighs in. Read More
BenefitsPRO: Are Small Businesses Getting a Fair Shake Through PPP?
While many companies were shut out of the first wave of relief under the PPP, Capital Bank, N.A., swiftly designed a process to get money into small business owners’ hands. Read More
Retirement Advisor PRO Newsletter: Are Small Businesses Getting a Fair Shake Through PPP?
The second tranche of PPP loans may go even quicker than first. Maryland-based Capital Bank, N.A., is poised to respond. Read More
Bloomberg: To Get a Small-Business Loan, Try a Smaller Bank
In the 14 days the PPP program was open, Capital Bank, N.A., was able to get 598 applications approved, with a median loan amount of $118,000. Read More
INC: PPP Funding Ran Out in 14 Days, Round 2 Could Go Even Faster
Capital Bank, N.A., based in Rockville, Maryland helped 598 small-business PPP applicants get SBA-backed federal aid totaling over $172 million. And its CEO noted that it’s girding for more.Read More
The New York Post: Small Businesses Say Banks Fumbled Applications in First Round of PPP Funding
While big banks dropped the ball on securing funds for PPP applicants, Maryland community bank, Capital Bank, N.A. was able to process $172 million in loans for local small businesses. Read More