United Community Bank Updates Paycheck Protection Program Progress
“There has been tremendous teamwork across our organization to achieve this volume over the first few days of this program,” said Rich Bradshaw, Chief Banking Officer. “Approximately 450 members of our team worked through the weekend and long hours this week to help our customers be among some of the first to submit applications. In order to continue this massive PPP initiative, we continue to mobilize additional team members which will allow us to increase our processing volume and speed. I am extremely proud of our ability as a community bank and preferred SBA lender to play such an important role in supporting our communities during this challenging time.”
Following the announcement of the CARES Act, United quickly developed and continues to refine a new, completely automated system for loan application and processing. Customers were encouraged to express interest and register to receive an emailed link to the PPP loan portal when it went live just days later. To date, United has received nearly 15,000 registrations. After an overwhelming initial application response, United temporarily paused on accepting new applications into the portal to allow the bank time and resources to process the existing applications. United plans to reopen the online registration form and application portal early in the week of April 13.
For more information on United’s operations during this time, visit UCBI.com/coronavirus.
