COLUMBUS, Ohio, April 21, 2020 /PRNewswire/ -- Today, JobsOhio,
Peoples Bank and First Federal/Home Savings Bank announced a
partnership to support existing small business clients with
maintaining operations and payroll during the COVID-19 pandemic.
JobsOhio has committed up to $50
million to assist Peoples Bank and recently merged First
Federal Bank and Home Savings Bank – with providing lending support
to companies negatively affected by the coronavirus pandemic.
"JobsOhio's partnership with Peoples Bank, First Federal and
Home Savings Bank will support efforts to sustain Ohio small businesses as they confront
unprecedented challenges from COVID-19's impact on our economy,"
said J.P. Nauseef, JobsOhio president and chief executive officer.
"First Federal Bank, Home Savings Bank and Peoples Bank are
Ohio institutions supporting
Ohio businesses. We are optimistic
this effort will provide businesses the assistance they need to
navigate this crisis."
The partnership with JobsOhio enables Peoples Bank, First
Federal Bank/Home Savings Bank to provide additional financing on
favorable terms for local businesses in good standing that would
otherwise not be able to access this credit on such terms due to
the COVID-19 crisis. JobsOhio's support provides these
banks additional capacity to increase their lending to
existing business clients by up to $200,000 per business, with funds available for
immediate use.
"Peoples Bank is committed to helping our communities, and small
businesses are the backbone of the local economy," said
Chuck Sulerzyski, Peoples Bank
president and chief executive officer. "We are excited to announce
this partnership with JobsOhio and get capital into the hands of
small businesses."
With the JobsOhio partnership, First Federal/Home Savings Bank
will be in a strong position to assist its small businesses clients
across the northern half of Ohio.
"We commend JobsOhio for creating this program to assist
Ohio's small businesses that are
so vital to our communities," said Don
Hileman, CEO of First Federal Bank of the Midwest. "We're
proud to be able to support the program and our business customers
during this time of need."
Eligible businesses can use the newly available loan funds for
working capital, including payroll, rent, mortgages or other fixed
debts, utilities and other bills. For information on how to apply
for this lending support, businesses should visit online at
peoplesbancorp.com/coronavirus, First-fedbanking.com/COVID-19 or
Homesavings.com/COVID-19.
JobsOhio is a private nonprofit
economic development corporation designed to drive job creation and
new capital investment in Ohio
through business attraction, retention and expansion. The
organization also works to seed talent production in its targeted
industries and to attract talent to Ohio though Find Your
Ohio. JobsOhio works with six regional partners across
Ohio: Dayton
Development Coalition, Ohio
Southeast, One
Columbus, REDI
Cincinnati, Regional Growth
Partnership and Team
NEO. Learn more at www.jobsohio.com.
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Twitter and Facebook.
Peoples Bank is a community bank
headquartered along the Ohio River in Marietta, Ohio. It has been a community bank
since 1902 and employs approximately 900 associates. Peoples Bank
has over 50 bank branches in Ohio,
and more than 20 bank branches in West
Virginia and Kentucky.
Peoples Bank's website is peoplesbancorp.com.
First Federal Bank and Home Savings Bank recently merged
as an affiliate of First Defiance Financial
Corp. (Nasdaq: FDEF), headquartered in Defiance and Youngstown, Ohio. The combined organization
operates 77 branches, 12 loan offices and 3 wealth offices in
Ohio, Michigan, Indiana, Pennsylvania, and West Virginia. Currently, 33 branches, 3
wealth offices and 12 loan production offices continue to operate
as Home Savings Bank. First Insurance Group is a full-service
insurance agency with ten offices in Ohio including James & Sons Insurance in
Youngstown,
Ohio. For more information, visit the
company's websites at First-fedbanking.com and
Homesavings.com.
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SOURCE JobsOhio
