Op-ed: To help Main Street businesses, look to Main Street banks.
Working more like a start-up than an established company, community banks bring a sense of urgency that benefits entrepreneurs.
A normally busy Main Street is deserted as the small businesses that line the business district remain closed after the governor instituted a shelter-in-place order in an attempt to curtail the spread of the coronavirus on March 24, 2020 in Rockton, Illinois.During our bank's 108-year history, we've weathered the Great Depression, the Dust Bowl, two World Wars, the September 11attacks, and the Great Recession.
Through no fault of their own, small businesses find themselves in uncertain times. Those looking to secure an SBA PPP or Economic Injury Disaster Loan understandably have lots of questions.
We're not, in other words, a Wall Street Bank. And in this case, that's helped. While we didn't have their "Fortress Balance Sheets" or global call centers, we do have long-time relationships in our communities. We frequent the businesses we lend to; we know the owners and have shaken their hands.
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