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In the wake of the COVID-19 pandemic that has brought much of the world economy to a standstill, President Donald Trump recently hosted small business owners from across the country to discuss the impact of the federal Paycheck Protection Program (PPP).
Also invited were community banks—institutions on the front lines of delivering the PPP funds—like Pennsylvania’s Orrstown Bank, in this case represented by Luke Bernstein ’01 (policy management, political science), Orrstown’s executive vice president and chief retail and communications officer.
“It was an incredible honor to represent Orrstown at the White House and share our story with the president and the nation,” says Bernstein. “Our story is about people working together, around the clock, to assist one another during these extraordinarily difficult times.”
Also at the event were Treasury Secretary Steven Mnuchin, SBA Administrator Jovita Carranza and Advisor to the President Ivanka Trump. The PPP is part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, and it provides nearly $350 billion in federal loans to American small businesses. For its part, Orrstown Bank has already assisted nearly 1,500 businesses throughout the region with more than $370 million in funding through the PPP.
Published May 21, 2020