BAKERSFIELD, Calif. — Mission Bank will participate in the Paycheck Protection Program (PPP), a federal loan program.
The bank began applying on Thursday night when the program began. It helped get a loan for Bakersfield Christian High School.
“We are grateful the Mission Bank team was able to get us into the program quickly in case the funds run out,” BCHS President John Buetow. said in the bank's press release. “We recognize we received slightly less than the maximum loan, but also understand this allows more businesses in our community to participate. That makes sense to us.”
Under its modified PPP program, Mission Bank expects loans can be made to approximately 225-250 local businesses, as compared to only 175-200 businesses under the original SBA maximum amounts.
Customers interested in the PPP program should visit the bank’s website at missionbank.com for details or contact their Mission Bank representative.