Collegiate Peaks Bank Administers Local Paycheck Protection Loans

With the continuing rush to obtain financial support from the Paycheck Protection Program, some businesses in rural communities feared they would be relegated to the back of the line, behind their counterparts in bigger cities. 

In Buena Vista and Salida, the ability to obtain PPP loans depended on the efforts of community bankers who help access loans and help keep their small businesses afloat.

In Chaffee County, Collegiate Peaks Bank has processed in excess on 110 loans, supporting 814 jobs with an average loan amount of $56,700.  Company-wide, Collegiate Peaks Bank has processed more than $95 million in loans.