As the pandemic continued throughout 2020, many small businesses were forced to shut down or were required to reopen at reduced capacity. Their inability to operate “as usual” resulted in layoffs or forced many employers to permanently reduce their workforces. With unemployment at an all-time high, more than 250 businesses received Small Business Administration (SBA) Paycheck Protection Program loans from Dort Financial. We provided more than $11,752,539 in SBA-backed loans that assisted small businesses in keeping their workers employed. Of those recipients, nine were local nonprofit organizations.
During these trying times of layoffs and rising unemployment, Dort Financial redoubled our efforts to provide essential services to support our members in need. More than 6,580 loan extension requests were processed, along with $11,742,620 in mortgage loan modifications to help over 90 members experiencing financial hardship. In 2020, the call center received 564,685 incoming calls, which was a 65% increase over 2019. In addition, our member service appointments were up 233%, with a record 26,760 appointments completed. Our team members worked tirelessly to provide solutions to assist our members at a time when they needed a helping hand the most.