INDEPENDENCE, VA – Skyline National Bank, a community bank headquartered in Grayson County, VA, has approved $78 million in Paycheck Protection Program loans since the program’s implementation in early April. These loans will help over 1,100 local businesses that are feeling the effects of COVID-19 retain more than 11,000 employees.
The Paycheck Protection Program (PPP) is a loan program designed through the Small Business Administration (SBA) to provide a direct incentive for small businesses to keep their employees on payroll during the novel Coronavirus crisis. Skyline National Bank was proud to be one of the community banks able to fund PPP loans to both customers and non-customers.
“Skyline National Bank is committed to the needs of our communities, no matter the situation,” said Blake Edwards, President and CEO of Skyline National Bank. “From the moment that we learned about PPP loans, we became eager to assist our small businesses in any way that we could. Our teams have worked tirelessly to help secure vital funding during this unprecedented time and I could not be more proud of the commitment and dedication they have shown throughout it all.”