Willamette Valley Bank Provides $25 million in PPP Loans for 214 Local Businesses Impacted by COVID-19
2,854 Local Jobs Saved
Salem, Ore – May 26, 2020 — Willamette Valley Bank announced today that it has processed 214 loans totaling $25.1 million under the Small Business Administration’s Paycheck Protection Program (PPP) to help local small businesses support payroll and related costs, saving approximately 2,854 jobs in the Willamette Valley. The PPP, which was originally launched on April 3, 2020 to address economic challenges caused by the COVID-19 pandemic, provides forgivable, government-guaranteed loans for the nation’s small businesses, which account for roughly 48 percent of the U.S. workforce.
“We are thankful to be in a position to help small businesses throughout the Willamette Valley save or sustain their businesses and employees during this unprecedented time,” said Ryan Dempster, President and CEO of Willamette Valley Bank. “I am immensely proud of our team members who worked tirelessly to process these requests. To be able to assist our customers, neighbors, and community in this way has been an extremely rewarding opportunity.”
About Oregon Bancorp, Inc.
Oregon Bancorp, Inc. is the parent company of Willamette Valley Bank (Bank), a community bank headquartered in Salem, Oregon. The Bank operates full-service branches in Salem, Keizer, Silverton, and Albany, Oregon. The Bank also operates Home Loan Centers in Bend, Eugene, Grants Pass, Medford, Tualatin, and West Linn, Oregon, Vancouver, Yakima, Spokane and Newport, Washington, and Coeur d’Alene and Meridian, Idaho. For more information about Oregon Bancorp, Inc. or its subsidiary, Willamette Valley Bank, please call (503)485-2222 or visit our website at www.willamettevalleybank.com.
Oregon Bancorp, Inc.