PCB Donates $15,000 Back to Community
PCB Helps Retain 4,313 Local Jobs through PPP Program; Donates $15,000 Back to Community
In March 2020, Pendleton Community Bank (PCB) began processing Paycheck Protection Program (PPP) loans to mitigate the impact of the global pandemic in the communities they serve. On May 5, 2021, the Small Business Administration announced all funding allocated for the second round had been distributed. Since the start of the pandemic, PCB is honored to aid 930 small businesses in retaining 4,313 local jobs.
“I am extremely proud of the entire PCB team,” says William A. Loving, President & CEO. “All staff collaborated to ensure our small business neighbors were quickly receiving necessary guidance and vital funding. PCB exists to facilitate financial success for our customers while also stimulating economic growth in our communities. Now that PPP lending has ended, we’re excited to financially contribute back to our communities and further serve our mission.”
PCB donated a total of $15,000 to three different community nonprofits. To determine the selected nonprofit organizations, the PCB team recruited help from local businesses who received PPP funding through the institution. Three business names were drawn at random, and they were asked to select a nonprofit that serves their community. A donation from PCB was then made in honor of the business and its staff. The list is as follows:
- $5,000 to Harrisonburg Downtown Renaissance
- $5,000 to Petersburg Volunteer Fire Company
- $5,000 to Pocahontas County Family Resource Network
The entire team at PCB has been actively involved in both the first and second round of PPP lending. In total, the institution has assisted in obtaining $50.4M in funding for small, local businesses.