Customers, Community and Navigating Covid-19
  

Our Employees, my wife and I want you to know we really appreciate all the work and effort you put in for this loan to happen for us. We know we are one of few companies that received this loan for the multiples that we know applied. Again - Thank you so much. 

State Bank Financial Business Customer, Western WI

There are so many things to reflect on and try to react to during this unique time in business.  You are hearing and seeing stories of resilience, of victories, and of communities coming together to help each other when and where they can.  To the frontline workers, the nurses, doctors, EMT, fire fighters and law enforcement you can’t help but say thank you.  And, the dangerous part of starting to thank people is of course you leave out someone or something that you meant to recognize.  (Teachers, public transportation, in-take medical personnel, delivery and truck drivers….see I knew this would get dangerous.)

One thing at State Bank Financial that we have always been proud of over our 160+ years of business is that we have always been connected to the communities we serve.  Supporting where we can, and when we can, but perhaps the greatest way we help is by coming alongside people.  People that are our neighbors, our customers, business owners, farm families, and our common community.  

Recently we had the opportunity to mobilize our Business Banking team to come alongside area businesses to participate in the Small Business Administration (SBA) Paycheck Protection Program (PPP).  We have had a Small Business Advisory Group in place for quite a while at State Bank Financial.  (This group is very versed in many aspects of small business, including SBA programs).  Our Small Business Advisory Group, along with additional hands from multiple departments, were able to navigate the complexity of this government program very quickly and more importantly help to shore up some major funding for area businesses.
This is typically where banks puff up a little bit, and why wouldn’t they, we could as well.  But… for us, for our team, we are very proud of what was accomplished and there are lot of numbers with plenty of zero’s we could throw in here.  But, the three numbers we are most proud of are pretty simple: 227, 10 and 3000+.  

227! That’s the number of loan applications we were able to process and secure for businesses in the communities we serve.  That means 227 businesses were able to tap into the CARES Act PPP funding to help cover the cost of payroll for their employees, associates, team members, and any other term that is in vogue today for describing the great men and women that keep the lights on, the grocery store stocked, the trucks running, the cows milked and the wheels of this economic engine turning.

10! This was the number of days the SBA gave financial institutions and businesses to get all the documentation, applications and forms filled out and submitted to be considered for this funding.  10 days, even with a 10 hour-day, that meant we averaged 2.27 applications per hour. (I know…I used another number…well we are bankers.) The truth is, to get it done we worked nights and weekends and we would do it all again.  

We have some of the most dedicated, smart, hard working team members I could ever hope for.  And, guess who was right there at the ready, our local business owners.  Documentation is a reality in any financial solution and when questions came up, we reached out and they took our calls and questions and responded quickly as well.  I have been in the industry for 35+ years and it really was one of the finest moments, in regard, to what a true business relationship should look like between a local company and a local financial institution.  It was about keeping the community strong – for the business owner, their employees and all the pieces of that puzzle that need to stay together. 

3000+!  I suppose that is the big number.  Over 3000 people will continue to get wages.  That means food on the table, roofs over heads, kids cared for and a chance to regroup, re-set and rebound so that we can be as strong as possible when the dust settles.  Which it will. 

227, 10 and 3000+!  Those are the numbers that really matter and no doubt they are all worth celebrating for sure.  In the meanwhile, thank you for trusting all of us at State Bank Financial. Stay safe and be well.

Sincerely,

Mark Carpenter 
Executive Vice President
Business Banking

To reach the State Bank Financial Small Business Advisory Group email: [email protected]