Blue Foundry Bank, in what it says is an effort to further strengthen its role in the communities it serves, announced it will make services for the second phase of the Paycheck Protection Program available to new customers of the bank — and will connect each applicant with a representative of the bank.
CEO James Nesci said the personal effort aligns with the bank’s culture and mission.
“We made the PPP application process as personalized and seamless as possible for new customers by giving them access to a Blue Foundry Bank team member every step of the way — from completing their application to receipt of funding,” he said.
Upon PPP approval, new customers must open a Blue Carbon Business Checking Account to fund the loan or have an existing business account, bank officials said. The applicant must also provide a driver’s license and meet revenue reduction and employee guidelines, as directed from the Small Business Administration.
The bank, based in Parsippany, has 16 locations in Morris, Essex, Passaic and Bergen counties. Nesci said its existing customers will see the same type of service.
“As a bank with deep roots in the communities we serve, Blue Foundry Bank feels a responsibility to support small businesses as they continue to face ongoing hardships,” he said. “Our main goal is to serve as a resource to help local businesses navigate the myriad of challenges brought on by the pandemic as they work to rebuild in the coming year.”
Blue Foundry Bank was founded in 1939 as Boiling Spring Bank. The bank changed its name in 2019. Nesci said the “blue” represents the brand’s “true-blue” ways and customer-focused culture — and that “foundry” depicts its dedication to forging relationships.
“Our bank has always served as more than just a means of providing financial services, and our new name reflects the grit and passion we put into making people, businesses and neighborhoods stronger,” Nesci said.