Arvest Bank has announced that via the U.S. Small Business Administration's Paycheck Protection Program, it's gained approval for over 9,700 small business loans totaling more than $1.05 billion.

 

“As an SBA Preferred Lender, we are well-acquainted with the weight small businesses carry in every community we serve,” Arvest President and CEO Kevin Sabin said. “I'm not sure it's possible to overstate the role they play, and that is why we decided to begin taking applications as soon as we were given the green light by the SBA.”

 

Arvest has assembled dedicated teams from across the company to work with small business owners around the clock to process applications.

 

Arvest Bartlesville Market CEO Kim Adams says, “Of the 399 local applications submitted, all 399 were approved and 100% funded with just under $58 million,” adding that “7,886 workers benefited from this Payroll Protection Plan.

 

A second round of funding may soon be available if its approved by Congress. However, Arvest will not accept new applications to its queue until the current applicants have been taken care of.

 

Locally, Arvest Bank is located in Caney and can be reached by calling 620-879-5811.