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Latest Updates on Coronavirus (COVID-19)
We are here to help
As the situation with the 2019 Novel Coronavirus (COVID-19) is extremely dynamic, First Choice Bank is continuing to make proactive decisions to protect our clients, staff, and the communities we support. We are committed to doing all we can to ensure both the safety of our customers and employees, as well as make certain that the banking needs of our clients are met seamlessly. We will continue to closely monitor the situation and evaluate additional measures of support as needed.
Branch Hours of Operation Updates
In response to the threat of Coronavirus (COVID-19), the following adjustments have been made to branch hours as detailed below:
- Effective 5:00 p.m. (local time) on Thursday, March 19, 2020, operations at the Anaheim branch will be temporarily suspended.
- Effective 5:00 p.m. (local time) on Tuesday, March 24, 2020, operations at the West Los Angeles and Rowland Heights branches will be temporarily suspended.
- Effective Saturday, March 28, 2020, Saturday operations at the Alhambra branch will be temporarily suspended.
- Effective 10:00 a.m. (local time) on Monday, April 27, 2020, operations at the Pasadena branch will resume per the hours noted below.
- Effective 10:00 a.m. (local time) on Thursday, May 21, 2020, operations at the Carlsbad and Chula Vista branches will resume per the hours noted below.
- Effective Monday, March 23, 2020, the hours of operations at all First Choice Bank branches that will remain open will be 10:00 a.m. (local time) to 3:00 p.m. (local time), Monday through Friday.
As a reminder, First Choice Bank offers a wide range of banking solutions that allows you to conduct transactions remotely, including but not limited to, online banking, mobile banking, and remote deposit. If you are interested in these products, please contact us at (562) 345-9092 or (877) 256-9809 for more information.
All Clients- Overview Update
At First Choice Bank, the health and safety of our clients and employees are of the utmost importance. At this crucial time, with the spread of the Coronavirus (COVID-19), we want to share information on how we are committed to operating safely and effectively and to provide you with sources for additional information.
Borrower Update- FCB Loan Payment Deferment and SBA Coronavirus-related Assistance Availability
The U.S. Small Business Administration ("SBA") is offering low-interest federal disaster loans for working capital to California small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Contact the SBA directly for more information (800-659-2955, email@example.com, or https://disasterloan.sba.gov/ela).
Separate and apart from the SBA's Disaster Assistance Loan Program, and in compliance with safe and sound lending practices, the Bank may work with current borrowers requesting Coronavirus-related loan modifications – either by deferring payments of principal and interest or requiring interest only payments for a specified period of time.
SBA's Paycheck Protection Program (PPP) Loan Forgiveness. The SBA recently issued Form 3508, the Loan Forgiveness Application for the Paycheck Protection Program. SBA guidance for borrowers regarding PPP Loan Forgiveness was recently issued (Paycheck Protection Program- Requirements- Loan Forgiveness), with additional guidance also expected in the coming weeks. First Choice Bank is working on finalizing the process to accept forgiveness applications through an online portal. In the coming weeks, Borrowers with PPP loans will be provided instructions on how to request loan forgiveness and the required documents to be submitted. This site will be updated with additional information as it becomes available.