Heritage Southeast Bank Extends Lifeline to 960 Georgia Businesses via Paycheck Protection Program Loans Totaling More Than $104 Million

ATLANTA--(BUSINESS WIRE)--Heritage Southeast Bank employees worked closely with 960 small businesses in Georgia to help them receive loans totaling more than $104 million via the Paycheck Protection Program (PPP) lending. The program offered Small Business Administration loans to help companies keep their workforce employed during the Coronavirus (COVID-19) crisis. Heritage Southeast Bank, headquartered in Jonesboro, Georgia, facilitated the loans via its three brands Heritage Bank, Providence Bank, and The Heritage Bank out of locations in South Metro Atlanta, North Fulton, and South Georgia and North Florida, respectively. The loans were critical lifelines for many of the businesses.

“Our employees partnered with business owners to navigate the loan program and help almost a thousand companies in Georgia keep their people employed and their operations going to serve customers,” said Leonard Moreland, Chief Executive Officer of Heritage Southeast Bank. “It is our privilege to be able to help these small businesses continue to operate during this challenging time.”

The bank helped businesses throughout Georgia in a wide variety of industries ranging from service businesses, retail, and professional services. “Providence Bank walked our company through the Payroll Protection Program application process from start to finish,” said Peyton Jamison with Jamison Private Wealth Management in Alpharetta, Georgia. “We couldn’t be happier to be a client of Providence Bank and will be for years to come.”

Kasandra McDaniel, owner of Friendship Learning Center with locations in Tucker and Buford, Georgia, worked with Heritage Bank for her PPP loan. “I wish I could let you hear the excitement in some of our employees’ voices when I told them that we got this loan. This loan really does help us as small business owners keep our doors open.”

“The service I received at The Heritage Bank was phenomenal.” added Myron Anderson, CEO of Jones Prescription Shop in Jesup, Georgia. “They made the process comfortable for me which allowed me to keep my focus on running the shop and taking care of our customers.”

Moreland noted that the local banks’ strong relationships with customers helped them connect quickly with businesses regarding the loan process. “We are an independent community bank committed to the communities we serve. We know our customers well and put our knowledge to work to help many of them get the funding they needed to weather this unprecedented storm,” he said.

About Heritage Southeast Bancorporation, Inc. and Heritage Southeast Bank:

Heritage Southeast Bancorporation, Inc. (OTCQX: HSBI) serves as the holding company for Heritage Southeast Bank, which is headquartered in Jonesboro, GA and operates under the names “Heritage Bank,” “The Heritage Bank,” and “Providence Bank” in its various markets. With approximately $1.3 billion in assets, the bank provides a well-rounded offering of commercial and consumer products through its 24 locations. For additional information, visit the HSBI website.

While the branches of each of the three combined legacy institutions operate under their respective legacy names, all such branches are branches of the same single insured depository institution, Heritage Southeast Bank, and a customer’s deposits in branches operating under different trade names will be commonly insured and subject to the same FDIC insurance limits.