Whether you are an existing or new customer, or someone in need of assistance, our team of experts are here to provide you with the guidance and understanding you need to move forward. Please don’t hesitate to contact one of our bankers and let us know how we can help. Meanwhile, GBC is doing the following:
We are continuing to support our local communities through donations to qualified local non-profits. The GBC International Bank Charitable Foundation offers financial support and resources to many types of organizations including, but not limited to: arts and culture, civic affairs, health care, human services, education, and elderly.
The 2020 application window is now closed. The committee will review qualified applications and contact applicants’ organization in the coming weeks for next steps.
Paycheck Protection Program
When Small Business Administration and Department of Treasury first announced the Paycheck Protection Program (PPP), we immediately recognized the impact the program could have in our communities. Understanding the spirit of the program but with guidance still developing from the agencies, GBC International Bank charged ahead by making the PPP loans the day SBA launched the program.
Within 2 weeks, GBC approved and subsequently funded 408 PPP loans. By the end of the program, we made 1188 loans at an average loan size of $95k. With a focus on our community and small businesses, it was no surprise that 88% of our PPP loans were $150k or less, and no matter the amount, every bit counts with the smallest loan at $495.
Now, our mission is to work with our borrowers to complete the PPP loan forgiveness process. Guidance continues to evolve, but we will do our best to help you navigate them. We appreciate your patience and look forward to continuing to serve you.