On April 9, 2020, Impact Alpha shared an article on how community banks and local lenders are bridging racial gaps during COVID-19 recovery. Southern Bancorp and CEO Darrin Williams were featured for the bank’s immediate participation in the Paycheck Protection Program.
Southern processed $16 million in Paycheck Protection Program loan applications on April 3rd, the program’s first day. Many of the loans processed have been for small amounts. The Southern Bancorp lending team processed an $8,000 loan for an African American-owned radio station and a request for less than $2,000 from a small photography studio in northeast Arkansas.
To read the full article and learn more about the work of community banks during the coronavirus pandemic, click the link below.
How community banks and local lenders are bridging racial gaps in COVID recovery