Paycheck Protection Program (PPP) - Queensborough National Bank & Trust Co.

SBA PAYCHECK PROTECTION PROGRAM (PPP)

We’re here to continue supporting our businesses

Queensborough National Bank & Trust Company is committed to helping our business customers during the COVID-19 pandemic. The Paycheck Protection Program is a federal loan program aimed at helping small businesses who have been severely impacted by COVID-19.

On December 27, 2020 a second stimulus package was signed into law, providing an additional $284.45 billion in funding for the PPP, available in first and second draw loans.

Please return to this page frequently for updates and information.

Quick Facts

Uses
Payroll, mortgage interest, rent and utilities, and certain other costs related to
COVID-19

Amount
2.5X business’s average monthly payroll (subject to caps)

Rate
Fixed 1.0% Annual Percentage Rate

Terms
Loans have a maturity of five years.

Forgiveness
Up to 100% with approval (subject to validation of qualification)

Program Dates
January 19 - March 31, 2021

CUSTOMER FEEDBACK

We can’t thank the Q team enough for their dedication, as they worked diligently and tirelessly to help us maneuver through the COVID 19 pandemic. We consider the Q team a valued business partner!

Sandi Shields Co-Owner of Best Office Solutions

Customer Feedback

Queensborough Bank could not have been more responsive and helpful than they have been during the current COVID19 crisis. I now have my PPP funds and am so grateful for my banking partners at Queensborough!

Katy and Shawn Ledford of Mellow Mushroom

Customer Feedback

Creshauna Darrisaw helped to make the SBA PPP loan process extremely painless. The necessary information was given to us quickly and documents processed promptly. Thank you Creshauna and the Queensborough team for your commitment to your customers and your professional customer service.

Claudia Jones of Universal Plumbing Inc

CUSTOMER FEEDBACK

In these uncertain times you may feel that a big bank is your best bet. That could not be further from the truth! A local bank with local people is how you get things done. Queensborough has the technology, resources, and staff to assist our needs. We have the money we need now and the big bank still hasn’t reached out to see if they can help. Our ONLY banking relationship will be with Q from here forward.

Kathryn Murph of Automated Business Resources