Issue 4. 2021 9 Curt Queyrouze is the President and CEO at TAB Bank — overseeing all strategic, financial, credit, and operational functions. Curt has amassed more than 30 years of commercial finance and commercial banking experience. He believes strongly that small- and medium-sized businesses are the heart of our nation and that they deserve our enthusiastic support. When round two of the PPP loans was announced, we realized that time, muscle and grit weren’t going to be enough, so we turned to technology to help us leverage our resources exponentially to help more businesses. As with round one, we had to work with multiple changes to the PPP regulations. PPP loans during the first round — from marketing to executives, me included. Several employees made it their mission to make sure small businesses received their loans. Because the requirements and regulations of PPP loans were constantly changing, both applicants and customers had to adjust numerous times, which sometimes was frustrating to companies that really needed loans. TAB’s employees didn’t give up on these businesses and worked with them through each requirement and change, so they weren’t left out. We even processed one loan for $150. It was a tremendous effort by everyone at the bank to collaborate and partner together. We f lattened the organization’s structure so we could all work together to process the loans. Any silos between departments that might have existed broke down, creating better unity among our employees, which has improved working relationships long after completing PPP. For the first round, we processed 1,700 loans with an average loan amount of about $90,000, helping more than 20,000 employees nationwide. When round two of the PPP loans was announced, we realized that time, muscle and grit weren’t going to be enough, so we turned to technology to help us leverage our resources exponentially to help more businesses. As with round one, we had to work with multiple changes to the PPP regulations. However, our fintech partner was tremendous, and they too worked around the clock to adjust to each change and customer need. During the second round, TAB processed nearly 9,000 loans at an average value of $40,000, helping more than 33,000 employees. Additionally, 70% of the loans TAB processed were to minority, women or veteran owned businesses. What we’re most proud of at TAB Bank is that the average loan amount — 70% of the loans were below $50,000 — shows how many small businesses benefited from that second round. And, we achieved that higher number of businesses served using half as many TAB employees dedicated to PPP compared to round one. In total, we processed half a billion dollars in loans, helping more than 50,000 employees across the country. We know this is just one story of helping companies get through the pandemic. We know numerous banks in Utah executed some heroic efforts to save businesses during the COVID-19 pandemic. Thank you to the Utah bank employees that participated so strongly in those efforts. Utah did more than its share providing loans for the nation’s small businesses. n
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