Small businesses may be getting a little economic relief as federal loans are beginning to roll in to help support payroll.
Nextier Bank officials say they’ve approved over $80 million in small business loans as part of the paycheck protection program funded by the federal government CARES Act.
34 of those loans have already been closed and funded to the borrower—with another 70 plus set to close either today or tomorrow.
Nextier says they continue to get applications daily, and are happy to get the funds into the hands of small businesses to help them stay sustainable.
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