Leader Bank to Begin Accepting PPP Applications on January 13
ARLINGTON, Mass., Jan. 12, 2021 /PRNewswire/ -- Leader Bank, N.A. is pleased to announce that the Bank will continue to be a proud participant in the next round of the SBA'S Paycheck Protection Program, also known as the PPP. As an MDI institution, Leader Bank will be one of the first institutions to accept PPP applications in Massachusetts.
During 2020, Leader Bank lent over $120 Million in PPP funds to support thousands of local businesses in a time of need. "We are proud to continue being a leader in our participation in the PPP program and we are thrilled to be able to provide assistance to small businesses, in particular minority-owned businesses, in a time of need," said Sushil Tuli, Chairman & CEO of Leader Bank. "Leader Bank has long been focused on helping small business owners, and nearly 90% of our loans made to date under PPP were less than $150,000 to help support workers and businesses in our community."
Those wishing to apply for PPP loans with Leader Bank, which can include a "second draw" for those customer who previously received a PPP loan, will be able to begin submitting their PPP applications at 12:01 am on January 13th at http:///www.leaderbizloans.com. "We have invested in technology and other tools to automate and expedite the PPP loan application process and excited to create many new long-term relationships," said Mr. Tuli.
Leader Bank was also named Massachusetts Lender of the Year in 2020 to Minorities by the U.S. Small Business Administration.
About Leader Bank
With assets of over $2 billion, Leader Bank, N.A. is a nationally chartered bank founded in 2002 with seven full-service branches in Arlington, Belmont, Boston, Burlington, and Cambridge. Leader Bank offers a full range of personal and business banking products including personal and business checking accounts, commercial and residential lending products, home equity lines of credit, deposit products with highly competitive rates and free online banking and bill payment services. Visit Leader Bank's website at www.leaderbank.com or any one of the Bank's convenient branch locations for more information. Member FDIC and Equal Housing Lender, NMLS #449250.
SOURCE Leader Bank
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