Area bank launches support efforts and loan assistance

FAIR LAWN, NJ — Columbia Bank has recently announced special efforts to assist customers and nonprofit organizations affected by coronavirus. The announcement is part of a comprehensive program to help ensure the health of bank employees, customers and communities served.

“Columbia Bank is closely monitoring the progress of the virus and is making every effort to maintain safe and convenient service,” said Thomas Kemly, president and CEO of Columbia Bank. “We will do our part to provide support during this uncertain time. For business customers, we will be delivering special short-term financing options for those experiencing financial hardship. For nonprofit organizations who are finding it difficult to fulfill their mission, the Columbia Bank Foundation has pledged up to $300,000 in special grants.”

Nonprofit organizations can apply for grants between $5,000 and $10,000 through a designated support link. For additional information and the link to apply for a special grant, Columbia Bank has established a coronavirus support page on its website www.ColumbiaBankOnline.com.  

Customers who have been personally affected by coronavirus can call 800-522-4167 to request support relating to their banking relationship.

Columbia Bank will be waiving early withdrawal penalties on certificates of deposit and will waive other deposit fees as appropriate for customers experiencing financial difficulty due to the coronavirus. 

Business owners experiencing financial difficulty should contact their relationship manager. Columbia Bank has developed several short-term solutions that are designed to provide specialty financing assistance to commercial borrowers experiencing financial stress related to COVID-19. Business customers who are experiencing economic injury as a result of COVID-19 are encouraged to visit SBA.gov/Disaster for information regarding the Disaster Loan Programs available directly from the U.S. Small Business Administration.

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