Umpqua Bank
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News Release
Umpqua Bank's Spokane Small Business Impact: $31 Million, 3,000+ Jobs, 180+ Businesses - 05/21/20

More than 3,000 workers in Spokane will be able to return to their jobs or keep working, thanks to the $31 million worth of federal Paycheck Protection Program (PPP) financial relief applications submitted by Umpqua Bank on behalf of more than 180 local small business owners.

The PPP loans that went to business owners in Spokane are part of the $450 million total Umpqua Bank processed for businesses in Washington.

“Small businesses are the lifeblood of our economy and helping them navigate and survive the pandemic has been one of Umpqua’s highest priorities the past several weeks,” said Umpqua President & CEO Cort O’Haver. “We will continue to do all we can to help our customers and communities get through this challenging time.”

Umpqua was one of the first banks in the country ready to accept small business applications when the Small Business Administration launched the Paycheck Protection Program on April 3. The bank has successfully processed nearly 14,000 loans worth an estimated $2 billion that helped businesses save 240,000 local jobs in communities across five states.

For context, Umpqua might fund roughly $140 million in SBA funding on average in an entire year.

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