A Palm Beach County Bank Processing PPP Loans When The Big Banks Didn’t
WEST PALM BEACH, FL — July 27, 2020 Flagler Bank has been able to streamline the complicated PPP loan application process for many small businesses here in the region. Jack Stearns, of Stearns Construction, said, “I was getting no answer back from my bank on the PPP loan application. Then Allen (Bornstein of WorkGroup Payroll, Inc.) connected me to Flagler Bank and they took care of me and got it done- fast. It just took a few days.”
Fernando Mondragon, President of Mondragon Pest Control, said, “I applied for the PPP program but my bank didn’t seem motivated. Maybe I was too small to get their full attention but, when I went to Flagler Bank, they made it easy.”
Through Friday, Flagler had successfully processed close to 650 PPP loan applications and, though they have clients with loans of over $2 million, 500 of the PPP loans were for under $150,000.
Allen Bornstein, President of WorkGroup Payroll, Inc. said, “Our clients were so frustrated at the big banks. They couldn’t get answers and they couldn’t talk to a human being. Flagler’s people gave us their cell phone numbers! They were amazing- a lifeline. Our clients thanked us up and down!”
When asked why he thought Flagler was able to get PPP loans turned around in as fast as only 1 or 2 days, Ed Sterling, President and CEO of Flagler Bank, said, “The big banks relied on a computer queue system. We relied on our people. We were running around like a beehive here and handling everything through the drive through window and online. We came in early and stayed late and we said to each other, “Let’s get this done!”
Dave Lumbert, VP, Flagler Bank, said, “Allen’s company (WorkGroup Payroll, Inc,.) made it easier because his people knew what papers to give us.”
Bornstein said, “Based upon SBA guidelines, there are different ways to look at this and we looked at it each way to see how to get the most for our clients.”
Rob Greene, President of Martin Fence Co., has been with Flagler Bank for about 10 years. He said, “Years ago a friend asked me, ‘If you’re not a multi-billion dollar corporation, why are you banking with a multi-billion dollar bank?’ I interviewed several banks but, what overshadowed everything, was Flagler’s willingness to bend over backwards. They make banking a pleasure.” On the PPP loan process, Greene said of Flagler, “They made it easy. They contacted me. It was just a matter of a couple days.”
Stanley Shuba, Co-owner of Beeline Distributors, said they have been with Flagler since the beginning- 25 years ago. Shuba said, “They know who we are. We show up and ask them to do something and they get it done.” He said the bank worked with Beeline many times over the years, most notably in helping them secure their commercial truck loans. “The PPP loan process was pretty painless. We gave them the info and they did all the inputting. It was probably the easiest loan we ever did.”
Sterling said, “This is important for our community- it is keeping people employed. That’s the purpose of this program, as administered by the SBA. We are glad our bank has been able to help.”
This teamwork between Flagler Bank and WorkGroup Payroll, Inc. has been able to help hundreds of small businesses in Palm Beach County, resulting in better employment numbers, a boost to the local economy and more businesses being able to survive the impact of the COVID pandemic that has already closed so many businesses in the region.
About Flagler Bank
The goal of Flagler Bank is to be the most respected community bank in South Florida by providing quality service for the financial needs of its customers. We aim to provide prompt, courteous service to current and future customers with an emphasis on prompt, courteous personal service. We provide for the needs of the individual and the small business alike through a variety of lending opportunities and deposit services with the most up to date technologies available for maximum convenience. Flagler Bank doesn’t regard its customers as just numbers but as neighbors and individuals with their own personal needs.
About WorkGroup Payroll, Inc.
WorkGroup Payroll was formed with one goal in mind: to be the cost effective premier provider of payroll, payroll tax services and other related services for small to medium sized businesses. We strive to be on a first name basis and treat you as our most valued client. We work to exceed expectations and meet changing needs. We use technology to enhance our customer experience, not replace human interaction.
Especially now, we are committed to providing payroll and related services that are cost effective. We believe every client relationship is priceless- and we do all this at a price significantly less than the large national payroll companies.