Bank of Luxemburg issued over 400 Paycheck Protection Program loans; applications welcome
LUXEMBURG – Bank of Luxemburg announced Monday it still is able to offer loans through the federal Paycheck Protection Program after having processed more than 400 such loans totaling almost $30 million for businesses and nonprofit organizations in Northeast Wisconsin, including 25 churches.
The government-issued program provides Small Business Administration loans to help businesses keep their workforce employed during the COVID-19 crisis. According to the bank, its loans have supported more than 5,500 jobs in the Luxemburg, Casco, Dyckesville, Algoma, Kewaunee, Green Bay and Sturgeon Bay communities.
“We understand this is a crisis situation for most businesses, especially our small ,local establishments,” Tim Treml, the bank's president, said in a press release. “We have worked diligently to educate ourselves on the program and help as many businesses as possible … some which may have even been turned away at their own banks.”
Like many financial institutions, Bank of Luxemburg has been inundated with requests and applications, but it said it still has money to lend through the program while other banks reportedly are no longer accepting applications.
“Knowing time is of the essence, our employees have been working long hours, going the extra mile to process loans quickly,” Treml said. “For example, a number of our dedicated employees worked nontraditional hours, including until 3 a.m. in some cases, to secure funding for the bank’s clients.”
“Our mission is to have a positive impact on people’s lives and we’re honored to still be able to do that, even in trying times,” Treml added.
Offering full-service personal and business financial solutions since 1903, Luxemburg Bancshares, Inc. and Bank of Luxemburg have banking offices in Luxemburg, Green Bay, Dyckesville, Casco, Algoma, Kewaunee and Sturgeon Bay.
To learn more about the Paycheck Protection Program, call Bank of Luxemburg at 920-845-2345 and ask to speak to a commercial lender. For more information, visit bankofluxemburg.com.
Contact Christopher Clough at 920-741-7952, 920-562-8900 or [email protected]
RELATED: Kewaunee woman charged with tax fraud for allegedly embezzled income
RELATED: The 'Burg Speedway's new promoters face uncertainty under COVID-19 crisis
FOR MORE KEWAUNEE COUNTY NEWS: Check out our homepage
This article originally appeared on Green Bay Press-Gazette: Bank of Luxemburg issued over 400 Paycheck Protection Program loans; applications welcome