Aquesta Bank Funds First Payroll Protection Program Loan with Local Client

CORNELIUS, N.C., April 03, 2020 (GLOBE NEWSWIRE) -- Aquesta Bank is pleased to announce the funding of its first loan through the Payroll Protection Program (PPP). The loan was made to a local customer, Homewatch CareGivers who employees 150 people in the town of Cornelius, home to the headquarters of Aquesta Bank. Mike Riley who owns the company said, “We take care of people in their homes (mainly seniors) and help them with activities of daily living to allow them to remain in their homes. These people depend on us to help them bathe, dress and feed themselves. Many are not able to get out of bed without our assistance. Our services are even more critical during these trying times. Aquesta Bank was able to accept my application, process the loan and have the money in my bank in one day!! By moving this quickly to get me my payroll protection plan loan, I am able to make sure all of my employees are safe and secure in their jobs.”

“We are so grateful to be able to help our local businesses through this unprecedented crisis,” said Jim Engel, President & CEO of Aquesta. “This morning we began obtaining SBA loan relief under the CARES Act for numerous clients and prospects. Working in record time and under difficult conditions, we have about 120 PPP loans in process right now. These are, in fact, life savers for our communities. Virtually every client sees a light at the end of the tunnel thanks to the work of the Aquesta Team.”

Aquesta Bank was formed in 2006 in response to a need for a strong community bank. Aquesta has responded to the needs of the small and medium sized businesses that surround the Charlotte area for over 13 years. Aquesta’s commitment to the community runs deep and beyond providing financial services. From the beginning, Aquesta has supported everything from the Ada Jenkins Center to local sports teams to Hospice and everything in between.

Aquesta Financial Holdings, Inc. is the holding company to its wholly owned subsidiary, Aquesta Bank. Aquesta Bank is a full-service community bank headquartered in Cornelius, North Carolina with eight branches in the Charlotte, Lake Norman and Wilmington, North Carolina areas and loan production offices in Raleigh, North Carolina, as well as Greenville and Charleston, South Carolina.

For additional information, please contact Jim Engel (President and Chief Executive Officer) at 704-439-4343 or visit us online at www.aquesta.com.