Thank you for allowing Pacific Valley Bank to assist you in obtaining your Paycheck Protection Loan. The next step in this process will be submitting your PPP application for forgiveness of the loan that you have received. The Bank has established a website that will be available to you specifically for this purpose and we will be sending an email to our PPP borrowers with the link and instructions to log in and get started.
Pacific Valley Bank (OTC Pink: PVBK) announced its unaudited second quarter 2020 Net Income of $735 thousand or $0.18 basic earnings per share. This represents an increase of 9% over the same period of the prior year, $674 thousand or $0.17 basic earnings per share at June 30, 2019.
As COVID-19 continues to impact the economic health of our region, all of us have had to reprioritize. Pacific Valley Bank is working tirelessly in order to meet the needs of the business community in Monterey County and our hearts go out to everyone impacted by this crisis.
Effective June 18, 2020, we will no longer be accepting loan applications for the SBA Paycheck Protection Program. We are grateful for the opportunity to have assisted so many local businesses in securing the funds needed during this time.
Pacific Valley Bank (OTC Pink: PVBK) announced its unaudited first quarter 2020 Net Income of $599 thousand or $0.15 basic earnings per share, compared to the first three months of 2019 with a reported $548 thousand or $0.14 basic earnings per share.
The SBA resumed accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020. At this time, Pacific Valley Bank will continue to accept PPP applications from existing clients and known businesses in Monterey County.
We’re covered—are you? We’re complying with the most recent order from the County of Monterey Health Department that went into effect on 04/30/2020 so you’ll see everyone in the bank wearing a face covering. Clients, employees, visitors—anyone entering any of our branches needs to be wearing a face covering. We hope you know our smiles are still there.
The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding. Pacific Valley Bank will continue to accept PPP applications from existing clients and known businesses in Monterey County to be processed if additional PPP funding is approved. For businesses that have already submitted an application, Pacific Valley Bank will continue to process these applications and will reach out directly with next steps if additional funding is approved.
Due to the demand for the Small Business Administration’s (SBA) Paycheck Protection Program (part of the CARES Act), Pacific Valley Bank is only accepting applications from existing and known businesses in Monterey County at this time. For businesses that have already submitted an application, we will continue to process these applications and will contact existing applicants to complete the loan application process. Learn more about the application process.
During this unprecedented event, we’ve seen the best of what it means to be part of this community with so many people going above and beyond to help each other. There are also those who exploit these situations so we are encouraging heightened awareness at this time to avoid being the target of a financial scam. Learn more about some of the most common scams and how to protect yourself.