With the U.S. Small Business Administration launching a new $284 billion Paycheck Protection Program last week, the Business Journal asked Twin Cities banks whether they plan to participate and, if so, whether they will accept applications from businesses that are not existing customers. We also asked them what prospective borrowers should know.
The inquiries to more than two dozen local lenders garnered many responses, but it’s not a given every bank is participating in this round.
The Independent Community Bankers of Minnesota has many members participating. Many of its members are smaller regional banks. Those participating include:
- Drake Bank
- Flagship Bank
- Minnesota Lakes Bank/Grand Rapids State Bank
- New Market Bank
- Premier Bank
- Star Bank
- Think Bank
- The Bank of Elk River
- Village Bank
