The Payroll Protection Program, (also known as PPP),was authorized by the US Federal Government, which made available funding to small businesses and non-profits during the shut-down caused by the COVID-19 pandemic . These funds are designated for employee payroll, utilities and rent that were incurred during the mandatory Coronavirus shut-down.
Wadena State Bank, an active participate of SBA lending, recently funded 157 individual PPP loans to area businesses and non-profit groups of which the total monetary amount came to just under $10.2 million.
Wadena State Bank is a family-owned, community bank, committed to the economic viability of the businesses and communities we serve. During this unprecedented time of uncertainty for our country, local businesses, and families, Wadena State wants to assure you, our customers, we are available to hear your concerns, take your phone calls and if need be, assist you financially until this pandemic has subsided.
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