Bank of Southern California funds USD 487.8m PPP loans to support local businesses during COVID-19.

M2 EQUITYBITES-May 14, 2020-Bank of Southern California funds USD 487.8m PPP loans to support local businesses during COVID-19

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Bank of Southern California, N.A. (OTC Pink: BCAL) has announced it has funded more than USD 487.8 million in Paycheck Protection Program (PPP) loans, providing 1,940 local businesses with financing to retain or restore jobs for 52,523 individuals, the company said.

The Paycheck Protection Program provides small businesses with financial resources to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead. As an SBA Preferred Lender, Bank of Southern...

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