Leader Bank to Begin Accepting PPP Applications on January 13
Leader Bank, N.A. is pleased to announce that the Bank will continue to be a proud participant in the next round of the SBA 2019 Paycheck Protection Program, also known as the PPP. As an MDI institution, Leader Bank will be one of the first institutions to accept PPP applications in Massachusetts.
During 2020, Leader Bank lent over $120 Million in PPP funds to support thousands of local businesses in a time of need. We are proud to continue being a leader in our participation in the PPP program and we are thrilled to be able to provide assistance to small businesses, in particular minority-owned businesses, in a time of need, said Sushil Tuli, Chairman & CEO of Leader Bank. Leader Bank has long been focused on helping small business owners, and nearly 90% of our loans made to date under PPP were less than $150,000 to help support workers and businesses in our community
Those wishing to apply for PPP loans with Leader Bank, which can include a second draw for those customer who previously received a PPP loan, will be able to begin submitting their PPP applications at 12:01 am on January 13th at https:///www.leaderbizloans.com. We have invested in technology and other tools to automate and expedite the PPP loan application process and excited to create many new long-term relationships,said Mr. Tuli.
Leader Bank was also named Massachusetts Lender of the Year in 2020 to Minorities by the U.S. Small Business Administration.
About Leader Bank
Founded in 2002, Leader Bank is a Massachusetts-based entrepreneurial financial institution that approaches banking differently. The core tenets of Leader Bank include world-class client service, exemplary products, and innovation to meet the needs of its clients. At its founding, Leader Bank had $6.5 million in assets – in the two decades since, the Bank has grown into one of the most successful financial institutions in the Commonwealth with $4 billion in assets. Leader Bank’s team members have been at the forefront of supporting the Bank’s rapid growth and client-oriented solutions over the last two decades as the Bank has expanded its commercial and retail products and solutions. Leader Bank is a committed corporate citizen and prides itself on partnering with and supporting philanthropic organizations. More information on Leader Bank can be found at www.leaderbank.com.
