Hudson Valley Credit Union is proud to announce that nearly 900 of its small business members were able to acquire funding from the SBA Paycheck Protection Program. Since the program closed on July 31, more than 880 loans totaling over $34M were provided to local businesses in food, entertainment, and other industries to help them continue operating during the pandemic. As a result of the frequent changes in the application process, a team of staff across seven different departments was formed to help send out necessary updates. At one point, the team made over 500 courtesy calls in three days to pass along important changes to applicants.
“This program opened a new window of opportunity for many of the local businesses that we rely on daily,” said Senior Vice President of Lending, Brian Waldron. “As a credit union, serving our community is in the heart of everything we do. Whether we’re in the middle of a pandemic or not, we will always be here when they need us.”
Although the program has officially closed, the credit union continues to provide free resources to business owners including a Small Business Survival Series of free monthly webinars and a contest that will award grants to two small businesses that submit a 90-second video explaining how they managed their business during the pandemic. For more information, visit hvcu.org/Business.