Millions of dollars going to local small businesses in latest round of loans

Matt Jordan April 30, 2020

Last Updated: April 30, 2020

Medford, Ore –The second round of federal loans for small businesses rolled out last week and banks are already seeing hundreds of applications.

People’s Bank in Medford says it received a total of 358 applications for loans through the federal Payment Protection Program or PPP.

150 of those applications were left over after money ran out on the first round of loans.

Lenders say even more applications are expected as independent contractors, gig workers and sole-proprietors are now eligible.

“The entertainment industry, hotels, restaurants, virtually all of our industry segments, I can’t think of a one that hasn’t approached us and we haven’t been able to help,” said Julia Beattie, Chief Lending Officer at People’s Bank.

People’s Bank says so far it’s loaned nearly $23 million in this round of small business loans, and almost $100 million total.

Matt Jordan April 30, 2020

Matt Jordan

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Matt Jordan is the Chief Meteorologist for KOBI-TV NBC5. Matt joined the NBC5 weather team in 2014 after a year as a reporter and anchor in Alexandria, Louisiana. His experience with the severe weather of the Deep South and a love of the Pacific Northwest led him to pursue a certification with Mississippi State University as a Broadcast Meteorologist. You can find Matt working in the evenings of NBC5 News at 5, 6 and 11 as well as online. Matt also has a degree in Journalism from the University of Oregon. In addition to being passionate about news and weather, Matt is a BIG Oregon Ducks fan. When not rooting for the Ducks or tracking down the next storm over the Pacific, Matt can be found outdoors in the Oregon wilderness with his wife, his daughter and their dogs Stanley and Gordi.