Tapping Into Your Creative Edge

FirstBank Receives Over $2 Billion in SBA Applications

SBA Paycheck Protection Program

Places Temporary Hold on Accepting New Applications

Our number one priority is to ensure our small business customers receive the funding they need to keep their businesses running and employees paid. When Congress approved the Small Business Administration (SBA)’s Paycheck Protection Program (PPP), we didn’t hesitate to participate. We knew how important it would be for our clients and local economies.

After receiving final guidance from the Treasury Department and the SBA, FirstBank started accepting loan applications on Monday, April 6. Within 72 hours, we received more than 15,000 applications equaling an estimated $2 billion in funding. To put that into context: in nearly three decades, FirstBank has processed less than a third of that amount ($600 million) in SBA loans.

To handle the demand, we pulled in hundreds of employees who are working in split shifts, 24-hours a day, to process these requests. However, we are having to temporarily pause on any new SBA PPP applications to focus on closing and funding the current, approved loans.

We are also using this time to make enhancements to our application portal to create an easier, more streamlined experience for customers and help expedite the application process. We anticipate reopening the application portalon Tuesday, April 14th at noon.

Again, this is a temporary pause, and we want to assure all our customers we are working extremely hard, so we can more efficiently and effectively manage the next wave of applications and get money into the hands of small business owners as quickly as possible.  

We will continue to provide updates on the SBA Paycheck Protection Program on our website at efirstbank.com. In the meantime, we encourage all businesses interested in the relief program to familiarize themselves with the eligibility requirements and necessary documentation, which can be found on SBA and the U.S. Treasury websites. We also encourage our customers who’ve been negatively impacted by the pandemic to take advantage of the financial flexibility we’re extending through our “Customer Relief Program” found on our COVID 19 response page

Needless to say, this is an unprecedented time and an unprecedented offering. Our customers’ needs and concerns remain our highest priority, and we will continue to work around the clock to get them the support and resources needed as we navigate these very challenging times.

Sharing is Caring 💙

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Leave a Comment

Check us Out on Instagram

Check us Out on Facebook

2 hours ago

Aspen Real Life

WED, 10/28, Noon

@Campgroundbooking CEO Heath Padgett is one of six participants pitching for capital & other resources at this year's Mountain Pitch Summit! ⁠

Camping should be simple, so why isn't the reservation process? Campground Booking takes all the leg work out of reserving a site, giving all parties involved more time to actually enjoy what it's all about. 🏕️☺️🔥⁠

Campground Booking helps campgrounds save time and boost occupancy through the campground management software and powerful booking engine.⁠

Health Padgettt, the founder, CEO, and camping enthusiast will be pitching at COVENTURE Mountain Pitch Summit 2020.⁠

Sign up to get the link when the event goes LIVE, Wednesday, October 28 @ Noon! ⭐ Link in bio 👉@coventure.io⁠

@coventure.io #pitchnight #investors #smallbusiness #aspenentrepreneurs #supportingsmallbusiness #supportingcommunity #strategicpartners

📸: @dominik_jirovsky

View on Facebook

11 hours ago

Aspen Real Life

Dangerously soft!

#Repost @aspendreamco with @get_repost
Good night, sleep tight.
Get cozy in our softest pajamas.
More prints ready for pre order online at aspendreamco.com

#goodnight #sleepy #cozy #cozyvibes #pajamas #pj #pajamatime #pjset #pjs #sharkprint #nightnight #sleepwear #loungewear #loungewearchic #aspendream #aspendreamco @aliinwonderlandd @davidcliffordphotography

View on Facebook

1 day ago

Aspen Real Life

It’s local companies like @vukoobar that motivated us to create a network that shouts their messages and products out to our awesome audience.

Go to @aspenbusinessconnect to meet our members and click the link in the bio to join the professional network. First member only meetup happens next Thursday!

Repost @vukoobar
We care about giving you great tasting nutrition straight from the heart of what keeps US alive! GO Vukoo for @vukoobar! Each Vukoo® product is made with ingredients sourced using regenerative and sustainable agriculture to raise consciousness for the planet, farmers, and community. WE ARE Farm To Bar™ who cares about human trafficking and mental health awareness! #vukoo #aspen #colorado #a21 #govukooforvukoo #mentalhealthawareness #pure #glutenfree #soyfree #lactosefree #superfood #homegrown #farming #veganfood #hikingfood #organicfood #nongmo #refrigeratedproteinbar #vukoobar #colorado #healthymoms #wholefoodsmarket #amazonprime #wholefoodscolorado #naturallyboulder #lowsugar #highfiber #highprotein #realfood #rawfood

View on Facebook

2 days ago

Aspen Real Life

Purchase your pumpkins at Engel & Völkers Aspen - Snowmass - Roaring Fork. Each dollar will plant one tree in the U.S. Forest Service - White River National Forest. #halloweenevents #aspenevents #AspenRealLifePumpkins, pumpkins, and more pumpkins! Check this out:

Have you purchased your pumpkins this year? If not, buy a pumpkin from Engel & Völkers; your money goes to a great cause!!

Buy A Pumpkin, Plant 5 Trees. What does that mean, you ask? Just keep reading... 😈👻

This year for Halloween, Engel & Völkers is giving back to the community ♥️🖤 ⁠

Today, until October 16th, until Friday, October 30th, we will have pumpkins available for $5 each; each dollar spent on pumpkins will plant one tree in the White River National Forest in efforts to restore the damage done by the Grizzly Creek Fire. #COMMUNITYSTRONG🌲🔥 ⁠

You will be able to purchase a pumpkin at our Engel & Völkers Aspen, Basalt, or Carbondale shops using cash or venmo; there will be a QR code for easy access outside each building, and instructions for dropping cash. 🎃 💵 ⁠

If you have any questions or need help, please give one of our offices a call (or if it’s the weekend / after business hours, send us a message on Facebook / Instagram).

Aspen: (970)925-8400
Basalt: (970)927-9955
Carbondale: (970)930-4663


View on Facebook