Press release submitted by Rollstone Bank & Trust
Rollstone Bank & Trust announced today that since the Small Business Administration (SBA) unveiled its Paycheck Protection Program (PPP) just 12 days ago, it has processed more than 200 applications for approval by the SBA, and committed to $32 million to date.
Michael Olson, Executive Vice President & Chief Lending Officer at Rollstone Bank & Trust. (Courtesy photo)
Rollstone and other banks across the country are working in partnership with the federal government to aid businesses and people in wake of the COVID-19 pandemic. The PPP was included in the recent passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), designed to assist individuals as well as small business owners. The initial Act provided $349 billion earmarked for the estimated 30 million small businesses in America. Efforts are underway to secure an additional $250 billion for these programs. Business owners can get more information at www.SBA.gov and apply if it is appropriate for their situation. They should also discuss this with their banker.
“The commercial team at Rollstone Bank & Trust has reacted swiftly to our customers’ requests, and we are grateful that we have been able to help so many of them,” said Michael Olson, Executive Vice President & Chief Lending Officer at Rollstone Bank & Trust. “We are a true community bank and we want to see everyone succeed, no matter where they bank. I encourage small business owners to act quickly and reach out to their banker if they think the program is a good fit for them."
In addition to facilitating loans for small business owners, Rollstone Bank is donating 2000 masks to HealthAlliance Hospital in Leominster and has set up a COVID-19 Relief Fund to help vulnerable individuals across the region. Donations can be sent to Rollstone Charitable Foundation at 24 Monument Square, Leominster, MA 01453, with “COVID-19 Relief” noted on the memo line.
About Rollstone Bank & Trust
At Rollstone Bank & Trust, we deliver personalized service that goes above & beyond. Our dedication to providing our customers with superior bank and wealth management solutions, along with the support they need to prosper at work and at home, has enabled us to build one of the most trusted banks in the region. With branches located throughout central Massachusetts, customers have peace of mind knowing we are FDIC & DIF insured, and never far from home. Rollstone Bank & Trust - it's where you matter most.