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We’re Helping more than 650 Small Businesses with PPP Loans

As we adjust to staying home, working remotely and physical distancing, we’re help to help you.

Our Online Banking and Mobile Banking app are available as a convenient way to check your accounts, pay bills, deposit checks and send and receive money electronically.

You can use your phone’s Mobile Wallet to pay for services where you see the contactless symbol, shown at the left. No need to handle cash and in many cases, touch the point-of-sale terminal.

To keep your account information safe and secure, make sure you frequently review your account eStatement and set up account alerts.

Keep in mind, if we need to reach you, we will not ask for personal or financial information through email, text or unsolicited calls.

Be on the lookout for Coronavirus (COVID-19)scams and go to the IRS website to learn how the Economic Impact Payments, sometimes called Stimulus Checks, are being deposited or mailed to eligible U.S. citizens and how non-tax filers can get their payment by using the IRS ”Non-Filers: Enter Payment Info Here” web portal and entering their bank account information.

As these unexpected times continue to unfold, we are committed to providing you with the service, support and solutions to help you be successful. We are here for you today, as we have been since 1891, and will continue to help you with your banking.

Paycheck Protection Program: Helping Small Businesses

During the first and second rounds of the Paycheck Protection Program (PPP), American Federal submitted applications for more than 650 small businesses, totaling $45.3 million in loan assistance, and received funding from the Small Business Association (SBA) for 100 percent of the applicants.

Thousands of employees in the Red River Valley and Lakes Country in American Federal’s footprint have been helped through the program.

In northwest Minnesota, C and M Ford Sales, Hallock, MN, and Roseau County Ford, Roseau, MN employ 42 people. Owner Paul Blomquist turned to American Federal for assistance with the PPP. Jay Friedt, Ag and Business Banking Specialist at American Federal in Hallock, processed the small business application accurately and timely, Blomquist said.

“The experience was very professional and decisive,” Blomquist continued. “Jay kept it simple for me.”

“On Sunday morning, Jay said he was willing to help me with my PPP application,” Blomquist explained. “On Sunday night, I had a loan agreement number in hand for both car dealerships.  That’s going the extra mile. These funds will help me keep my staff employed during these very challenging times.”

American Federal will continue to assist small business clients in the event Congress provides additional SBA funding for small businesses through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

We encourage you to help support your local businesses in any way you can. We are all in this together.

Contact A Banker Today!