VISIONBank Coronavirus Communication and Bank Operations

April 5, 2020

 

To our small business clients,

I have attached a picture of the “CARES Task Force that Cares” from VISIONBank.  This incredible team from VISIONBank worked tirelessly from Friday until Sunday afternoon, day and night to deliver your applications to the SBA site to secure funding for our small business clients.  We care deeply about the financial well being and the health of everyone but our hearts go out to the small businesses that are the backbone of our economy and are struggling to get through this shutdown. Thank you to all that supported us with your wonderful warm wishes, thank yous and thoughtfulness with food, treats and calls as we brought this team together to work extended hours  to deliver for our clients.  WE will get through this together!  Be safe and see you soon...

Dan M Carey
President / CEO

 

April 2, 2020

 

To our Small Business Clients,

VISIONBank will be working 24/7 and through the weekend to submit your information through the SBA portal once it is open for banks to submit applications. We understand that this SBA portal will be open tomorrow April 3, 2020.  For us to successfully submit your application, we are attaching a checklist of the required financial information and support documentation that must accompany your application. In most cases we have some of your information on file but to expedite processing of your application we need you to submit this information in a complete package for this program.  This SBA program is moving at such a fast pace that there may be additional changes.  We will let you know in a subsequent communication if we need to make any adjustments. Please be advised that YOU are responsible for completing and submitting the application to VISIONBank so that we can submit it to the SBA through the portal they have established for this program.  Our goal is to submit applications as soon as the portal is open through Friday night and through the entire weekend to secure the best positioning for relief for our small business clients.  We appreciate your business and the opportunity to serve you.

Please submit your application through our secure portal at https://www.visionbanks.com/cares-act/.

Dan M Carey
President / CEO

April 1, 2020

 

To our small business clients,

We have continued to actively engage in every way to fully understand the specific parameters of the CARES Act programs and how these programs provide benefits to our small business clients. Today we participated in a conference call with Governor Doug Burgum, the Commissioner of the Department of Commerce Michelle Kommer, Congressman Kelley Armstrong, Bank of North Dakota officials and Al Haut, Director of the ND Small Business Administration.  While I would like to tell you we learned all the critical information and the specific parameters, qualifications, and terms  of the various programs under the CARES Act there are still unanswered questions and the final forms have not been provided. Once we are in receipt of the complete application, parameters, forms, and terms of each program we will communicate that information to you on our website.  There is a certain amount of misinformation about the programs and the availability of CARES Act funding. We are as anxious as each of our small business clients to know the specifics and to remove any uncertainty about the final parameters.

 

Dan M. Carey
President / CEO

March 30, 2020

COVID-19 Communication-CARES Act

To our Small Business Clients,

We were very pleased to see the CARES Act passed and signed into legislation on Friday, March 27, 2020 providing an appropriation of $350 Billion to assist small businesses that have been or will continue to be negatively affected by COVID-19. We were advocates for banks to have the “delegated authority” to work directly with our small business clients to assist them with the application and funding process. As of this writing, we are waiting for the Small Business Administration (SBA) to finalize the necessary applications and forms. As soon as we are in receipt of the required SBA documents, we will make them available on our website. I have attached three resources at the bottom of this post for you to review that provide a good overview of the available programs as we wait for the application information from the SBA. As we learn more, we will share the most up to date information with you.

VISIONBank will continue to assist small businesses through this challenging time. If for any reason, you don’t feel like you are getting answers to your questions, we want our clients to know that they can have direct access to one of our SBA loan specialists by emailing COVID@visionbanks.com. We will be checking this inbox frequently no matter what time of the day it is to accommodate our clients. As always, we stand ready to assist our small business clients and many of you know that you can reach your banker 24/7. We expect to have an incredible amount of demand and questions about the relief package so we ask for your patience as we try to respond as quickly as we possibly can. Our continued goal is to be there to assist our clients in making sure that we are exploring each program under the CARES Act and those programs under the SBA Economic Injury Disaster Program and finding the right program for your business. WE are there for our local businesses as we know how critical their role is in being the backbone of our economy. WE will get through this together...

 

Dan M Carey
President / CEO
 

Small Business Guide & Checklist
Prepared by the US Chamber of Commerce

Small Business Owner's Guide
Small Business Guide to the CARES Act

EIDL & PPP Loans
Attached is a table comparing EIDL and PPP Loans

March 23, 2020

 

A message from our VISIONBank President:

WE are ALL dealing with the uncertainty of the financial impact that the coronavirus is having on each of our clients, our employees, our families, our neighbors, our communities and the country.  VISIONBank is here for you to answer any questions or concerns you have about the various programs such as the Small Business Administration Disaster Loan Program and the soon to be unveiled Economic Stimulus Program.  As we await the announcement of the details of the new Economic Stimulus Program we will be taking steps to alleviate some of the financial strain you might be experiencing.

We will be making available our Skip Payment Loan program to provide our lending clients the opportunity to skip at least 2 months of payments to provide immediate relief (please contact our team to get more details). Additionally, we are anxiously awaiting the outline of the  National Economic Stimulus Program so that we can provide our small business clients with the appropriate and necessary information to proceed with qualifying for relief under this program.  We are very proud to share that we have Senator Cramer and Senator Hoeven shaping this legislation as members of the Senate Banking Committee and the Senate Appropriations Committee respectively. They, along with Representative Kelley Armstrong, are doing a great job representing our state and the country with solid North Dakota business sense about how this economic relief legislation needs to be structured for ease of qualification and ease of distribution.  We are proud to be advocates for all small businesses and we  fully acknowledge that they are the backbone of our economy.  Small businesses and the employees that make up those small businesses need relief NOW.  I have had the opportunity to listen to our elected officials reach out to North Dakotans for their input and advice through various conference calls.  We know that there are a lot of unanswered questions. We will try to answer those questions for you. We will do our part to explore every feature of the relief programs so  that we can make sure that we are customizing the relief plan that makes the most sense for your business and your employees.

We will get through this and we are thankful for the courage, resiliency and the appreciation we have for each other as we go through this challenging time.

Dan M. Carey

President / CEO

VISIONBank

March 18, 2020

The well-being and safety of our clients, employees and the communities we serve continue to be our top priority.  As we continue to meet the ever-changing challenges of this invisible virus spreading throughout the country, we will be taking immediate steps to follow recommended social distancing measures.  VISIONBank WILL BE CLOSING THE LOBBIES OF ALL LOCATIONS EFFECTIVE THURSDAY, MARCH 19thDrive up facilities will continue to operate with normal hours from 7:30am to 7:00pm M-F and 9am to 1pm Saturday.  We ask that clients access digital banking services and contact the bank by phone to arrange for appointments as needed. In accordance with our emergency preparedness protocol, we have taken steps to provide full service to our clients while minimizing the number of staff at our locations for safety reasons.  We are confident that our country’s leadership will guide us through this health pandemic.

We will continue to keep you apprised of any updates through our website and social media.  Please feel free to contact us at 701-364-2020, toll-free at 877-857-2020, or by email at customerservice@visionbanks.com.

Dan M. Carey
President/CEO