On-Demand Lending Support
This spring the Paycheck Protection Program taxed resources in banks throughout the country and in Kansas. With limited funds available, banks acted swiftly to assist their customers – researching program specifics, educating customers on eligibility, reallocating staff, working additional hours, and utilizing their trusted partner relationships to process as many loans as possible in a short time frame.
Acting as an ancillary lending department for 36 Kansas banks, BBOK led the application processing and approval, creating the notes and providing all the documentation to bank’s for final signatures. Instead of spending hours on the application process, partnering with BBOK allowed bank lenders to spend time with their customers to help the business navigate the financial implications of the shutdown.
Working as a team, BBOK and the banks helped nearly 700 customers obtain government assistance during an eight-week period.
As businesses resume activity, BBOK is now guiding banks and borrowers through the loan forgiveness process in hopes that most loans will be 100% forgiven.
f you or your bank have questions about the PPP forgiveness process, please contact Tim Binns at 1.800.999.5725.