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Business Resources During COVID-19

As the COVID-19 pandemic has financially affected some individuals and businesses, our team at Prevail Bank aims to be your trusted advisors during this time. We are offering our knowledge, resources and expertise to our business customers. We are here to help your business through these unprecedented times. Reach out to a Prevail Commercial Loan Officer today to see how we can help you.

Fees Waived for Business Checking Accounts

Money may be tight at the moment, we get that. As a result of the COVID-19 outbreak we will be waiving the monthly maintenance fee on our business checking accounts.

You will notice the following changes beginning with the April statement cycle:

  • No monthly maintenance fees on all Business Value Checking Accounts, regardless of the balance maintained in the account.
  • Prevail Bank is waiving Account Analysis and Maintenance fees associated with Business Enterprise Checking and Business Interest Checking. 

Note: Waives will be in effect from Wednesday, April 1st through Tuesday, June 30th. Fees not noted above will remain in place. You will see these changes reflected in the April, May and June 2020 statements.

For questions regarding your monthly statement or account fees, please reach out to a Prevail Business Banker. Check out our Business Checking Accounts page to learn more about our accounts and waived fees during the COVID-19 pandemic.

SBA Loan Resources

Prevail Bank is a proud partner of the Small Business Association (SBA). We are able to provide loans that help small businesses in our communities overcome the many barriers of business ownership and expenses. We are offering the resources below to provide insight on programs and opportunities available to businesses during this time. For more information on the below resources, visit our Resources for Business page.

  • COVID19 Small Business Guidance and Loan Resources
  • Paycheck Protection Program
    • The Paycheck Protection Program allows you to apply for the funds for the program through your bank, if you qualify for this program. We offer a Fact Sheet and Application for you to use.
  • Bridge Loan Program
  • Economic Injury Disaster Loan vs. Paycheck Protection Program
    • Information provided on the Paycheck Protection Program is general information, and borrowers should always contact their lender and accountant for complete details.
  • Small Business Owner’s Guide to the CARES Act

Multi-Million Dollar Deposit Insurance Coverage Options

Prevail Bank is insured by the Federal Deposit Insurance Corporation (FDIC), which allows us the ability to guarantee the safety of your money within the FDIC guidelines.

If you are wanting to deposit funds over the FDIC limit of $250,000 per entity, we offer Certificate of Deposit Account Registry Service (CDARs) for CD balances and Insured Cash Sweeps (ICS) for Checking and Money Market balances that are in excess of the FDIC limits. Learn more about our CDARs and ICS services by visiting our Resources for Business page.

Please contact your local Prevail Business Banker or Commercial Lending Officer to discuss your business needs, and see how we can help your business prevail.

 

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