GREAT FALLS, Va.–(BUSINESS WIRE)–As a registered lender with the Small Business Administration (SBA), Trustar Bank has utilized the SBA’s CARES Act Paycheck Protection Program (PPP) to provide capital to small businesses, helping them meet their ongoing short-term expenses. The CARES Act, which was signed into law on March 27, 2020, provides banks with an opportunity to assist businesses in need.
In the span of just one week, Trustar Bank has provided over 200 loans to local businesses struggling during the COVID-19 pandemic. As a community bank, Trustar takes great pride in supporting local organizations and important causes. The Bank is happy to announce that they will be donating 10% of PPP processing fees to local organizations, such as the Inova Health Foundation and Washington Nationals Philanthropies. Through efforts like this, Trustar Bank hopes to provide a bit of extra relief to those struggling during these difficult economic times.
“We felt privileged to participate in the SBA’s Paycheck Protection Program (PPP), support the stabilization of the US Economy and help working families in Greater Washington. As a community bank, Trustar Bank understands and values the role that community banks play across this great country,” said Trustar Bank CEO, Shaza Andersen, “To help even further, we are donating 10% of our loan fees from the PPP Program to Inova Health Foundation and the Washington Nationals Philanthropies. It is important to us to serve as strong stewards of our community and invest in programs and people that are committed to making our community healthier, safer and stronger.”
If you would like more information about the Paycheck Protection Program, please visit Trustar Bank’s website at www.trustarbank.com. The Bank’s dedicated PPP Rapid Response Team is ready to assist businesses with any questions they may have.
About the Bank – Trustar Bank is a full-service bank offering comprehensive banking products and services to small- and medium-sized businesses and consumers. It is the first bank to be chartered and opened in Virginia in over a decade. For more information, please visit Trustar Bank online at trustarbank.com.
Contacts
Media
Shaza Andersen
Chief Executive Officer
[email protected]
Anthony Fabiano
Chief Financial Officer
[email protected]
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