Paycheck Protection Program Critical to Small Business Survival

This year has been a time of uncertainty for many small businesses. Between having to temporarily close their doors or adapt their business models, small businesses have struggled to remain open and keep staff employed.

Through the Paycheck Protection Program (PPP), small businesses across the country have received access to critical funding. FNBO is proud to share that we have provided over 7,300 businesses with more than $800 million in funds through Paycheck Protection Program Loans that helped preserve an estimated 90,000+ jobs. Additionally, we provided support in the form of payment deferrals and other financial relief options.

FNBO is honored to support small businesses in the communities we serve. The assistance provided through the Paycheck Protection Program helped keep the doors open and people at work. Below is just a small sample of the businesses FNBO worked with to provide access to much needed PPP funding.

Read Our Customer Stories

Beyond Envy Salon

Beyond Envy, a salon located in North Platte, Nebraska, was mandated to close for seven weeks during the initial stages of the coronavirus pandemic. To adapt their business model, the salon added all of its products to its website and began doing curbside pickups for products and boutique items. During this time, salon owner Sophia Klein was forced to rely on her savings to remain open.

To keep her staff on payroll and pay bills, Beyond Envy sought a PPP loan with the help of FNBO. To secure the loan, Klein worked with Commercial & Agribusiness Banking Officer Chance Schilling. “Chance worked all hours of the day and night helping us. I am very impressed by how helpful FNBO was with our application,” Klein said.

Not only did this loan help Beyond Envy remain open, it helped the stylists weather the pandemic as well. “I believe this loan helped save my business. Because the stylists weren’t working, they weren’t able to pay their booth rent. With the help of the loan, I was able to waive their rent and lift that burden from them. This loan was able to help a total of 16 families and I will be forever grateful for that,” Klein said.

Dana Orthodontics

Dana Orthodontics in Greeley, Colorado, was faced with uncertainty when the pandemic began. When it came to orthodontic care, there were conflicting reports as to what was recommended for new and continued patient care. To maintain staff on the payroll during the stay at home order, Dana Orthodontics sought a PPP loan through FNBO with the help of Director of Community Banking Erica Herman.

“Our commercial banker, Erica Herman, was knowledgeable considering the ever-changing information related to the PPP program and provided guidance during the application process,” said Neil Gamblin, co-owner of Dana Orthodontics. “The smooth application process began to bring some certainty to the uncertainty we were facing and reiterated the fact that FNBO has been a committed part of our team for over 15 years.”

The Halal Guys

The Halal Guys, a restaurant chain with locations in Plano and Carrollton, Texas, was hit hard by the COVID-19 pandemic. The restaurant, which normally serves office workers over their lunch breaks, saw a significant drop in revenue and had to adjust their business model to serve their loyal customers. Instead of focusing on the lunch crowd, the Halal Guys shifted to focus on doubling down on their digital app which allowed customers to use non-contact curbside pick-up and non-contact restaurant take-out.

To help cover expenses and retain their staff during the initial months of the pandemic, The Halal Guys sought a PPP loan from FNBO. A Director of Commercial Banking worked closely with the Halal Guys on the application process and helped them to secure the loan. “We received great support from the FNBO team,” Halal Guys franchisee owner Shezad Jiwani said. “The application was simple and FNBO did a great job communicating the rule changes as they unfolded. With the PPP loan we were able to weather the initial storm and retain almost all of our management team and staff members.”

Nexus Relocation Group

Nexus Relocation Group, a corporate relocation services company located in Leawood, Kansas, experienced challenges helping customers with their relocation needs in the midst of the pandemic. The company needed to be able to serve customers while overcoming the challenge of a slow market for moving and relocation. Additionally, some of Nexus Relocation Group’s clients have not been comfortable relocating employees during the pandemic.

To help keep their staff employed and alleviate financial concerns, Nexus Relocation Group secured a PPP loan through FNBO with the help of Vice President of Commercial Banking Chris Willis. "FNBO provided great insight and knowledge about the program," Nexus Relocation owner Becky Oliver said. "The application and paperwork was relatively easy and the FNBO team provided personal attention."

Petros724 Inc.

Petros724, a software and consulting company in Madison, Wisconsin, experienced new challenges as a result of the COVID-19 pandemic. Many of the company’s customers, who are primarily manufacturers, shut down during the initial stages of the pandemic and experienced significant layoffs. Additionally, Petros724 had to convert its sales and consulting staff to a 100% work from home environment, which required more advanced remote access software.

To weather the downturn during COVID and keep their sales staff on board without non-executive pay reductions, Petros724 secured a PPP loan through FNBO. “Some of our customers have been really hurt and the PPP loan has allowed us to extend our services and products at reduced rates and keep our highly skilled staff available to them,” David Sheriff, owner of Petros724, said. “My banker was amazing. She clarified my questions, was responsive at all hours and kept me informed during the application and approval process.”

The Urban League of Nebraska

The Urban League of Nebraska is a non-profit community-based organization that administers programs in youth development, education and employment services. As a result of COVID-19, many of the schools where they provide services to students were closed. During the pandemic, The Urban League of Nebraska also saw an increase in demand for their employment services as many people lost their jobs. To continue providing much needed services, the organization held drive-thru career fairs to help people find work. They also transitioned their school-based programming to a virtual environment.

Due to fundraising events being canceled and a limit on public gatherings, the organization experienced a reduction in revenue. To continue providing vital services to the community and to ensure The Urban League of Nebraska could keep all of its staff employed, the organization sought a PPP loan through FNBO with the help of Senior Advisor of Community Banking Sara Going.

“It was important to have an established relationship with a financial services institution in order to facilitate the PPP application process,” Urban League of Nebraska President Thomas Warren said. “Sara Going was extremely helpful. She selflessly provided us with the direction and support that was required to expedite our application through the SBA process for review and approval.”