2021 CSBS Community Bank Case Study Competition Journal

FIRST PLACE: The University of Tennessee at Martin On Wednesday of that week, several TriStar employees stayed at the branch until 11:30 p.m. completing applications to obtain loan numbers for customers before the program’s funds were exhausted. Another day, members of TriStar’s loan staff arrived at 5:00 a.m. to process loans and avoid SBA system crashes. As PPP continued and more funds were released, TriStar learned that the best times to work on processing the loans were early morning and TriStar’s Story of Providing a Lifeline to a Community Business One exemplary story about how TriStar served its local customers was its decision to assist a new customer with a PPP loan. In one of TriStar’s markets, a manufacturing firm had requested a $1.8 million PPP loan from a larger bank. This firm was not TriStar’s customer

but contacted the Bank on Tuesday, April 14, 2020, (the week when the $349.0 billion would be depleted) and asked TriStar to help the manufacturer secure this loan. The firm had requested a PPP loan but had yet to hear from its lender concerning the loan’s status. The firm’s managers were concerned that the initial request with the larger bank would not be processed, especially since funds from the program were dwindling.

late evening hours when SBA system usage was down. This challenging situation was one of many in which TriStar’s devotion to its community was most evident. While many employees played a role in processing PPP loans, TriStar assembled a team of 10 people who focused on understanding the frequently changing guidelines for the program. This team also communicated changes to business owners via e-mail and TriStar’s Website (D. Sanders and C. Goatz, Zoom, February 25, 2021). TriStar’s PPP team sent information about how to apply for loans directly to existing customers; however, TriStar’s actual service extended beyond this group. For the first draw of PPP funds, TriStar decided to give priority to customers who already had accounts with TriStar rather than to new customers, but this decision had little effect on the outcome of TriStar’s work. Even though some applications were initially rejected due to the depletion of the $349.0 billion, all businesses that TriStar assisted with a first-draw PPP loan were eventually approved (“Paycheck Protection Program: Timeline of Important Regulatory Announcements”).

Even though some applications were initially rejected due to the depletion of the $349.0 billion, all businesses that TriStar assisted with a first-draw PPP loan were eventually approved. (“Paycheck Protection Program: Timeline of Important Regulatory Announcements”).

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