Old Fort Banking Company Processes Nearly 1,200 PPP Loans

As part of the COVID-19 financial relief efforts provided through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), The Old Fort Banking Company has processed nearly 1,200 loans totaling approximately $135 million to help local small businesses support payroll and related costs, saving hundreds of jobs within the area. The PPP, which was originally launched on April 3, 2020 to address economic challenges caused by the COVID-19 pandemic, provides forgivable, government-guaranteed loans for the nation’s small businesses, which account for roughly 48 percent of the U.S. workforce.

This was more than an opportunity for Old Fort Bank to showcase its commitment to meeting its client’s needs. It was also a call to action. The phones, both work and personal, at Old Fort Bank were ringing constantly into evenings and weekends as clients attempted to keep their businesses afloat. Old Fort’s process for staying on top of the application volume was simple, but it involved a great deal of hard work, long hours and dedication. Bank associates processed PPP paperwork into the late evening and on weekends. Ask the team at Old Fort Bank how it was able to process nearly 1,200 loans using a manual system in such a short time frame, and they will tell you it was simply a matter of attitude and acommitment to community banking.

“As relationship bankers and dedicated members of the community, Old Fort Bank is doing everything we can to protect the vibrancy of our small businesses, which serve as the economic engines for our local economy,” said Michael C. Spragg, President and CEO of Old Fort Bank. “I am extremely proud of our associates, who have worked around the clock to process these loans and ensure that critical funds were able to get in the hands of those who need it the most.”

Old Fort Bank continues to assist during this unprecedented time. The bank recently announced that, since 2007, it had reached in excess of $2 million in charitable giving. Serving as a sponsor and donor for numerous initiatives, including local events, charitable auctions, benefits, sports teams, golf outings, and more. Past recipients have included: Tiffin University, Heidelberg University, The Ritz Theatre, Terra Community College, Tiffin-Seneca Economic Partnership, Hayes Presidential Center, Fremont Memorial Hospital Foundation, and many others. In addition to its PPP funding efforts, Old Fort Bank has made numerous COVID-related contributions, including $20,000 to the Tiffin-Seneca United Way, to provide assistance to those that have been heavily impacted by the pandemic. “We will continue to stand by our small business clients and do everything we can to deliver relief quickly and efficiently, saving jobs and limiting the economic damage from this unprecedented pandemic,” said Spragg.

Established in 1916, Old Fort Banking Company has assets totaling approximately $770 million. Old Fort is a recognized leader in community banking throughout the area, and prides itself on providing prompt, professional and personal client service. The Old Fort Banking Company proudly serves Allen, Greene,
Hancock, Sandusky, Seneca and Wood Counties, with financial centers in Bettsville, Clyde, Findlay, Fostoria, Fremont, Old Fort, Tiffin, Sugarcreek Township and Xenia. The bank also operates a commercial loan production office in Lima. Member FDIC. Equal Housing Lender. NMLS 631428.