Rio Rancho Regional Chamber of Commerce issued the following announcement on July 7.
On Monday, July 6, the Small Business Administration (SBA) released Paycheck Protection Program (PPP) loan data at the request of Congress, media and others given the significant taxpayer commitment to the program. This was not a decision made by New Mexico Bank & Trust or any other bank that participated in the government program.
Names of borrowers with a PPP loan for less than $150,000 were not disclosed. Only the city, state, zip code, number of employees that benefited, and the congressional district were disclosed for these loans, along with the name of the lender that made the loan.
For PPP loans of $150,000 or more, the SBA released the borrower’s name in addition to the business location, number of employees that benefitted and the congressional district. The SBA released a dollar range for these loans, not the exact amounts.
“New Mexico Bank & Trust is proud to have helped hundreds of small businesses during this difficult and challenging time,” said R. Greg Leyendecker, President and CEO of New Mexico Bank & Trust. “We’ve processed 764 PPP loans totaling $106 million, preserving more than 13,512 jobs.”
To date, banks of all sizes have provided more than $500 billion in PPP loans to small businesses across the country, helping to preserve 51 million jobs, according to the Small Business Administration. The size, scale and speed of the banking industry’s response was unprecedented, and New Mexico Bank & Trust was honored to be a part of this important effort.
There is still more work to do to help businesses overcome the economic effects of the pandemic. New Mexico Bank & Trust will continue to support our business customers as we do our part to help fuel the economic recovery in our community.
Original source can be found here.
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