Sanibel Captiva Community Bank funds $109 million in PPP loans to help Southwest Florida businesses and residents impacted by COVID-19

Sanibel Captiva Community Bank has processed more than 1,100 loans totaling just over $109 million under the Small Business Administration’s Paycheck Protection Program to help local small businesses, nonprofit organizations and independent contractors support payroll and related costs, saving tens of thousands of jobs in Southwest Florida.

The PPP, which was originally launched in April 2020 to address economic challenges caused by the COVID-19 pandemic, provides forgivable, government-guaranteed loans for the nation’s small businesses. According to the SBA, approximately 41.7% of Florida’s workforce are small business employees.

In the first round of the program, the bank processed 766 loans for nearly $70 million. In the current round, almost 350 additional loans have been secured for $37 million.

“As a community bank, we combine traditional bank functions with relationship banking, which delivers added value to our customers and enables us to help support the Southwest Florida business community,” said Kyle DeCicco, Sanibel Captiva Community Bank’s executive vice president and senior loan officer. “Over the past year, our team has worked tirelessly to process these loans, ensuring that essential funds are made available to Southwest Florida businesses.”

The average loan amount Sanibel Captiva Community Bank processed was just under $100,000. Loan amounts ranged from as low as $500 to more than $3.7 million.

Founded in 2003, Sanibel Captiva Community Bank has two locations on Sanibel Island and six more locations throughout Lee County. The bank is nationally ranked in the top 2% best-performing community banks by S&P Global Market Intelligence out of more than 4,400 banks with assets under $1 billion. It is well-capitalized, with more than $740 million in total assets, and generates one of the highest returns on equity of all Florida banks. The bank employs more than 100 employees, and more than 40% are current shareholders.

Sanibel Captiva Community Bank’s team members provide customized individual and business banking services and specialize in residential and commercial lending. The bank offers free personal and business checking, deposit accounts with competitive interest rates, instant issue debit cards and a full array of digital banking products and services, including mobile banking apps, CardValet, online bill pay, Zelle®, Positive Pay and ACH Manager. To learn more, visit www.SanCapBank.com.