Queensborough Closes $79.6M in PPP Loans, Plans to Donate a Portion of Fees to Local Food Banks

Staff Report From Savannah CEO

Monday, April 20th, 2020

Queensborough National Bank & Trust has quickly helped several local communities by closing $79.6 million in Paycheck Protection Program loans. The bank began funding those authorizations on April 10.

Of that $79.6 million, $4.9 million went to three east Georgia hospitals, including Jefferson Hospital in Louisville and the Washington County Regional Medical Center in Sandersville. Queensborough will donate its fees from hospital loans to local food banks in those areas.

“It has been incredibly rewarding to deliver a critical lifeline of funding this week to approximately 150 local businesses in the Savannah area with the SBA Paycheck Protection Program,” said Mike English, senior vice president and coastal regional manager. “Our entire team at Queensborough has demonstrated extraordinary teamwork and dedication to serve our communities in an especially difficult time.”     

In the Savannah market, Queensborough has closed 84 PPP loans totaling $12.25 million.  The bank is working to close $4.4 million more authorized loans for the Savannah market. The estimated total will be 16.6 million, helping nearly 150 businesses. All loans are set to close within 10 days of application acceptance.

“A local bank with local people is how you get things done. Queensborough National Bank had the technology, resources and staff to assist our companies with our needs,” said Kathryn Murph, of Automated Business Resources. “We have the money we need now. Our only banking relationship will be with Queensborough National Bank from here forward.” 

Craig Thomas, of Thomas Construction, said: “I would like to commend Queensborough for the way they navigated me through the PPP loan process. They were quick to react to the news of this program and rolled out a plan of action for all of their clients, even before the terms of the program were finalized. Through this experience, everyone at Queensborough Bank has demonstrated that they care about their clients.  I can’t recommend Queensborough enough.”