CEBANK Donates $150,000 Back to Society

In March 2020, Cresidge Expatriate Bank (CEBank) began processing Paycheck Protection Program (PPP) loans to mitigate the impact of the global pandemic in the cities they serve. On May 5, 2021, the Small Business Administration announced all funding allocated for the second round had been distributed. Since the start of the pandemic, CEBANK is honored to aid 930 small businesses in retaining 4,313 local jobs.

“I am extremely proud of the entire CEBANK team,” says the President & CEO. “All staff collaborated to ensure our small business neighbors were quickly receiving necessary guidance and vital funding. CEBANK exists to facilitate financial success for our customers while also stimulating economic growth in our communities. Now that PPP lending has ended, we’re excited to financially contribute back to our communities and further serve our mission.”

CEBANK donated a total of $150000 to three different community nonprofits. To determine the selected nonprofit organizations, the CEBANK team recruited help from local businesses who received PPP funding through the institution. Three business names were drawn at random, and they were asked to select a nonprofit that serves their community. A donation from CEBANK was then made in honor of the business and its staff. The list is as follows:

The entire team At CEBANK has been actively involved in both the first and second round of PPP lending. In total, the institution has assisted in obtaining $50.4M in funding for small, local businesses.