The Cooperative Bank of Cape Cod is making it easier for businesses, including nonprofit organizations, to apply for the SBA’s Paycheck Protection Program (PPP) funding with the launch of an online application.
As an SBA Preferred Lender, The Coop has helped more than 750 local businesses thus far with PPP funding, with over 200 applying on-line in the last two weeks. In doing so, The Coop has helped to save close to 10,000 jobs. To date, the bank has received approval for a total of $80 million in PPP loans, and has funded 95% of the approvals.
The streamlined application can be accessed at mycapecodbank.com and completed on any device. In addition to the application, the website provides best practices for minimizing processing time and other background documents helpful to applicants. Funds are still available, and interested organizations are encouraged to apply soon.
“Our team has been working tirelessly to process applications and help navigate applicants through the process,” said Lisa Oliver, President and CEO of The Cooperative Bank of Cape Cod. “Our small businesses and nonprofits are the backbone of our region and the engines that drive our economy. Until we can collectively get back to work, we’re here to help them hire back employees, cover eligible expenses, forbear current loan payments, and weather this storm.”