March 27, 2020
Happy State Bank Joins Fight to Save Small Businesses with Paycheck Protection Program
AMARILLO, TX – Happy State Bank announced that it is joining the fight to save small businesses and their employees and resurrect the economy during this Coronavirus COVID-19 pandemic. After moving more than 400 employees to remote locations or home settings, closing bank lobbies to protect our customers and employees, and meeting customers’ banking needs by encouraging use of online banking and drive-thru lanes. CEO J. Pat Hickman says, “Happy is actively encouraging commercial customers to call and learn about the SBA’s Paycheck Protection Plan.”
“We’re very Happy the Senate and House pulled together to pass the CARES Act this morning,” said Hickman. “We’ve been watching its progress and it appears to be a wonderful program to help small businesses weather this storm and get back on their feet.”
Hickman says that businesses affected by the COVID-19 situation can contact their Happy loan officers or local branches and get started on gathering the information needed to apply for the new SBA loan and grant programs. The loans are 100% SBA guaranteed loans and can be forgiven if the funds are used to pay and retain employees.
“There are grant funds, loans that can be forgiven, and tax breaks. You can use your tax dollars to survive this crisis. While we have a good grasp on the ins-and-outs of these programs, we also know that there will be some changes as the program takes off. We are excited to help our business customers navigate through these regulations. Whether you are self-employed or running a business with hundreds of employees, you need to call us and find out how you and your circumstances may fit into the Paycheck Protection Program. You have lots to gain, and literally, nothing to lose,” added Hickman.