$229M in PPP Loans Secured for Over 1,200 NYC-Area Small Businesses

Over the last several months, Savoy Bank has worked diligently to deploy the SBA’s Paycheck Protection Program (PPP) to support the New York City metro small business community. Our lending team has assisted our clients and clients from other financial institutions to secure more than 1,200 loans totaling over $229 million. These efforts helped employers retain 24,888 jobs.

Each approved loan Savoy Bank processed represents an organization we were able to help weather this crisis and provide pay to their employees who can then provide for their families. Being able to quickly assist businesses and non-profit organizations early in the application process reinforces the unique and valuable role a community bank offers to the companies and business owners we serve.  

In addition to PPP Loans, Savoy Bank is proud to have assisted business owners in gaining access to capital with additional funding to support their company’s growth goals. Through various SBA Loan Programs and Conventional Loans, Savoy Bank has secured $83.9 million for area businesses this year. 

Savoy Bank is committed to our business community and will continue to work hard supporting business owners with professional, always-available guidance to secure financing for their company’s near or long-term goals. 

As of November 1, 2020 Savoy Bank Business Lending Highlights:

$229 Million

PPP Loans

$45.9 Million

SBA Loans

$38 Million

Conventional Loans

1,200+

Companies Helped through
PPP Process

24,888

Jobs Retained by
Small Businesses*

 

*As indicated and aggregated through client applications

Learn how Savoy Bank helps businesses like yours with tailored lending solutions.

 

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