Chesapeake Bank advocates for Main Street as pandemic persists in the US

Proactive Investors Friday, 28 August 2020
Chesapeake Financial Shares Inc (OTCQX:CPKF), which operates as the bank holding company for Chesapeake Bank, said its community bank had launched a campaign to support small business owners on Main Street as the coronavirus (COVID-19) pandemic persists in the US. During the pandemic, Chesapeake Bank said it has thrown a “financial lifeline” to existing customers and local small businesses through loan payment deferrals. It has also streamlined access to Paycheck Protection Program (PPP) loans through the US Small Business Administration (SBA). “According to the SBA, 99.5% of Virginia’s businesses are small businesses. They employ 47.1% of Virginia’s workers,” said Chesapeake Bank CEO Jeff Szyperski. “Those businesses define Main Street in rural small towns like Kilmarnock, Mathews, and Gloucester, suburban communities like Williamsburg, and even urban centers like Richmond. Big things happen when small business thrives. That’s our focus. That’s why community banks matter.'' READ: Chesapeake Bank provides faster payments to customers on the Real-Time Payments network Founded in 1900, Chesapeake Bank is a financial partner for small businesses and a strong ally for local nonprofits. The Kilmarnock, Virginia headquartered community bank offers personal and business banking solutions through 16 branches in central and eastern Virginia. “The pandemic turned our lives, our businesses, and our economy upside down,” said Chesapeake Bank Director of Marketing Paula Milsted. “Our communities need trusted sources for information to help them navigate this health and financial crisis. So, we’ve developed a special section within the bank’s website — — that includes useful and up-to-date financial information and resources for businesses and consumers,” added Milsted. The bank’s curated COVID-19 Resource page includes a blog feed from the Virginia Department of Health and links to local health resources. Main Street campaign Meanwhile, Chesapeake tapped its ad agency to help the bank share a message that conveys “community solidarity” and the bank's enduring support for local small businesses. As a result, the bank’s Main Street campaign resonates with the motto: “We’re helping them. So they can keep helping you.”      “Williamsburg-based photographer Corey Miller captured random ‘Open for Business’ images of our customers and non-customers alike throughout Lancaster County, Gloucester, Mathews, Williamsburg, and Richmond’s Westhampton area,” said Milsted. The ads channel candid photographs depicting how business owners have adapted to the new normal in the age of the coronavirus with outdoor dining, curbside pickups, and outdoor exercise classes.    “Everyone, in some way, has been impacted by this health crisis. We felt it was essential to reflect a wide range of businesses and their employees through this ad campaign,” said Milsted. Chesapeake Financial Shares is a one-bank holding company originally chartered in 1900 and based in Kilmarnock, Virginia. Contact the author Uttara Choudhury at [email protected] Follow her on Twitter: @UttaraProactive

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