Old Point National Bank Surpasses 1,000 Loan Milestone for Paycheck Protection Program
Old Point National Bank (Old Point) announced that it has helped to save approximately 1,000 small businesses and over 10,000 jobs in its community of Coastal Virginia. As of May 5, Old Point has successfully obtained Small Business Administration (SBA) approval for 1,037 loans totaling more than $111 million through the Paycheck Protection Program (PPP). The Bank continues to process loans for existing and new customers while funding is available.
“For the last month, our top priority has remained steadily focused on the health and financial well-being of our Old Point family. To date, we have obtained SBA approval for every client and new client who applied in the first round, plus hundreds more. I couldn’t be more proud of how the Old Point team has worked diligently around the clock to support our local business community,” said Robert F. Shuford, Jr., Chairman, President and CEO.