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PPP Loans

ODNB and Centre 1st Bank Secure $301 Million in PPP Funds for Small Businesses and Nonprofits

TYSONS CORNER, Va. and STATE COLLEGE, Pa., May 19, 2021 — Old Dominion National Bank announced that ODNB and its Centre 1st Bank division secured $301 million in funding for more than 700 small businesses and nonprofits through the Paycheck Protection Program (PPP) before the U.S. Small Business Administration (SBA) announced in May that federal funds for the initiative were exhausted.

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ODNB and Centre1st Bank Secure $152.7 Million For Small Businesses and Nonprofits Through the Paycheck Protection Program

ODNB has helped 353 new and existing customers in the Washington D.C. metropolitan area, Central Pennsylvania, and other market areas secure SBA-backed loans through the Paycheck Protection Program.

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WBJ: ODNB “a rare institution” accepting CARES Act Paycheck Protection Program (PPP) applications from new customers

“I’ve talked to a lot of small businesses because they are bringing the employees back,” said [ODNB CEO Mark] Merrill, whose bank a rare institution that’s accepting PPP applications from new customers so long as they open a deposit account with the bank. “They have developed a group that was working extremely well when the virus hit, and they don’t want to dismantle it because they are just not going to get it back.”

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