A Message about COVID-19 and the Paycheck Protection Program -- April 3, 2020

COVID-19 Small Business Collage

For our Small Business Customers, relief is on the way. The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes nearly $350 billion in forgivable loans to help small businesses keep their workers employed during this pandemic and associated economic downturn. We stand ready to support our small business customers who may be eligible for financial relief through the CARES Act.  A part of the Act, the Paycheck Protection Program (PPP), provides 100% federally guaranteed loans to eligible small businesses with less than 500 employees who maintain their payrolls during this emergency. 

Small Business customers with a business lending or business deposit relationship with Progressive Bank are eligible to apply for a PPP loan through our bank. Small Business owners who do not have a business lending or business deposit relationship with Progressive Bank should contact their current business banking provider as soon as possible if they plan to apply for this assistance.  This is the fastest and best method for applying for this relief, based on the U.S. Treasury requirements and guidance. 

With the PPP program, loan payments will be deferred for six months and these loans may be forgiven as long as: 

     -- The loan proceeds are used to cover payroll costs and most mortgage interest, rent, and utility costs over the 8-week period after the loan is made;

       -- At least 75% of the loan proceeds have been used to cover payroll costs;

      -- Employee and compensation levels are maintained, and

     -- Any other requirements established by the Small Business Administration are met.

The loan amount can be for up to 2.5 times your average monthly payroll costs from the last year, and the loan term will be for 2 years with a 1.00% fixed rate with no collateral or guarantees required and no fees to the applicant. For more detailed information on eligibility, average monthly payroll calculations, etc., the Department of the Treasury has prepared a PPP Information Sheet for Borrowers available here

The loan application period begins on Friday, April 3rd, for small businesses and sole proprietors, and on Friday, April 10th, for independent contractors and self-employed individuals; and you are encouraged to apply as soon as you have your information together.

For more details or if you are a Business Customer and have specific questions; feel free to contact your Progressive Banker. We know that everyone is eager to begin this process and we are ready to assist you. 

Whether you are a commercial or individual customer, we are thankful for your business and for your continued confidence in us. Your Progressive Bank team will be available to you when you need us. Our priorities are to keep you connected to your money in the way that's most convenient for you, to provide you the financial assistance that you need, and to get through this together.

The above information does not constitute the rendering of legal, accounting, tax, or other professional services advice by Progressive Bank or any of its subsidiaries or affiliates, and is provided without any warranty whatsoever.

 


 

A Message about COVID-19 -- March 24, 2020

We agree with the Governor - Banks ARE essential service providers

As such, we will continue to serve you during regular hours at our Drive-Thrus. 

Our Bankers are available by phone, e-mail, and appointment. We're available 24/7 through our PB Mobile app, Online Banking, and at our ATMs. And, don't forget to use your Progressive Bank debit card for purchases and PB Pay to send money to your family and friends. 

For additional information, feel free to contact Customer Service at 318-651-5100 or at CustomerService@ProgressiveBank.com.

 


 

  

March 20, 2020


We Care

We are here to help.

As the end of the week approaches, all of us at Progressive Bank send our thoughts and prayers to everyone. 

Remember, our Drive-thrus are open regular hours to serve you; our Bankers are available by phone or e-mail; and you can access your accounts 24/7 through our PB Mobile app, Online, or at our ATMs.

Stay safe and be sure to support our local restaurants with to-go orders this weekend.

We will get through this together.

 


  

March 17, 2020

For our Safe Deposit Box customers -- If you need to access your Safe Deposit Box, simply call your branch, let them know that you need to access your box, and then set an appointment.  We will do our best to accommodate your schedule.  Branch phone numbers can be found on our Locations and Hours page. 

 


March 16, 2020

In response to recommendations of the Centers for Disease Control (CDC) and the Louisiana Governor's Office, we have made the difficult decision to CLOSE our Branch Lobbies effective at 5:00 p.m. today and until further notice. Our Branch Drive-thrus will remain OPEN our regular drive-thru hours and our Branch Staff and Commercial Bankers will be available to serve our customers by phone, by e-mail, or by appointment.   

We encourage you to stay connected to your Progressive Bank accounts through our PB Mobile app and through Online Banking at ProgressiveBank.com.  From either option, you can view your account information, transfer funds, pay bills, and pay people with PB Pay.  Through PB Mobile, you can also deposit checks through your phone or tablet.

Thank you for choosing Progressive Bank. Our Progressive Bank team will be available to you when you need us. Our priority is to keep you safe and connected to your money in the way that's most convenient for you.  We appreciate your business and together we will get through this.

PROGRESSIVE BANK MANAGEMENT AND STAFF

 


March 13, 2020

The safety and well-being of our customers, our business partners, and our dedicated staff is of the utmost importance to us here at Progressive Bank. As such, we are taking the concerns associated with the COVID-19 Coronavirus very seriously and are closely monitoring this rapidly evolving situation.  

We are following the advice of the Centers for Disease Control (CDC) and want to keep you informed on the immediate steps we are taking to help prevent the spread of the virus.  We are encouraging everyone involved in our company to follow the personal hygiene recommendations made by the CDC and are continuing our cleaning practices in our branches and offices to support a healthy and safe environment.  We are restricting business travel for our employees and are asking them to stay home if they experience flu-like symptoms.  Finally, we are preparing contingency plans to ensure our customers have access to their Progressive Bank accounts.

While our branches will be open regular business hours to serve you, we encourage you to stay connected to your Progressive Bank accounts through our PB Mobile app and through Online Banking at ProgressiveBank.com.  From either option, you can view your account information, transfer funds, pay bills, and pay people with PB Pay.  Through PB Mobile, you can also deposit checks through your phone or tablet.

And, don't forget that your Progressive Bank Debit Card gives you access to make purchases (in-person and online), to withdraw cash at virtually any ATM, and to make cash or check deposits at any Progressive Bank branch ATM. If you have questions about your debit card or about a particular transaction or alert, you can contact us 24-hours a day at 318.651.5100.

We continue to monitor conditions and are here to assist our customers as needed.

Thank you for choosing Progressive Bank.

For additional information regarding COVID-19, visit the CDC at cdc.gov.