Aquesta Bank finances first payroll protection program loan
CORNELIUS, North Carolina, April 03, 2020 (GLOBE NEWSWIRE) – Aquesta Bank is pleased to announce the funding of its first loan through the Payroll Protection Program (PPP). The loan was made to a local client, Homewatch CareGivers, which employs 150 people in the town of Cornelius, the headquarters of Aquesta Bank. Mike Riley, owner of the company, said: “We take care of people at home (mainly the elderly) and help them with activities of daily living to keep them in their homes. These people depend on us to help them bathe, dress and feed themselves. Many cannot get out of bed without our help. Our services are even more critical in these difficult times. Aquesta Bank was able to accept my request, process the loan and have the money in my bank in one day !! By acting quickly to get my payroll protection plan loan, I am able to ensure that all of my employees are safe in their jobs.
“We are very grateful to be able to help our local businesses navigate this unprecedented crisis,” said Jim Engel, President and CEO of Aquesta. “This morning we started getting SBA loan relief under the CARES Act for many clients and prospects. Working in record time and under difficult conditions, we currently have around 120 PPP loans outstanding. They are, in fact, life savers for our communities. Almost every customer sees a light at the end of the tunnel thanks to the work of the Aquesta team.
Aquesta Bank was established in 2006 in response to the need for a strong community bank. Aquesta has served the needs of small and medium businesses that surround the Charlotte area for over 13 years. Aquesta’s commitment to the community goes beyond the provision of financial services. From the start, Aquesta has supported everything from the Ada Jenkins Center to local sports teams to Hospice and everything in between.
Aquesta Financial Holdings, Inc. is the holding company of its wholly owned subsidiary, Aquesta Bank. Aquesta Bank is a full-service community bank based in Cornelius, North Carolina, with eight branches in the Charlotte, Lake Norman, and Wilmington, NC areas, and loan production offices in Raleigh, NC. North, as well as in Greenville and Charleston, South Carolina.
For more information, please contact Jim Engel (President and CEO) at 704-439-4343 or visit us online at www.aquesta.com.