PPP MVP

Houston-focused bank comes through with record number of vital PPP loans

Teamwork and dedication equal success. Photo by Katleho Seisa/Getty

At the beginning of April, small businesses were allowed to begin applying for Paycheck Protection Program loans, a historic solution designed to help cover payroll, benefits, mortgage payments, and utilities.

It was a mad dash as many raced to figure out the new program, which only had an initial $349 billion allocated to the SBA for PPP loans. Every minute working on these PPP loans mattered to the Houston small business owners who applied.

Working through evenings and weekends, the staff at Texas Citizens Bank processed a staggering amount of loans in the first round, and an impressive amount of additional funds in round two.

In the impossibly small, 13-day window before round one closed, TCB processed and funded $73 million, helping 297 Houston small businesses maintain payroll and avoid layoffs. For round two, it processed $24 million, or 182 PPP loans.

"They were real heroes for many businesses," says David Gow, CEO of Gow Media (the parent company of InnovationMap). "Their team was working 'round the clock with businesses like ours to give us the best possible shot at PPP funding. I think they were one of the top banks in taking care of their clients during a very stressful window of time."

"With the help of Texas Citizens Bank and the PPP loan, we were able to get our entire team back up to their full pay the same week as funding," says Christy Lovoi of South Shore Oral and Maxillofacial Surgery, who notes that the practice was having difficulty with its previous bank and switched to TCB. "While it will take some time to get back to pre-pandemic levels, the PPP loan will definitely make it much easier. The response and help from everyone at Texas Citizens Bank has been absolutely stellar."

"A large number of employees are reporting to work today and receiving a paycheck because of your outstanding efforts," added Brent Cox, vice president of member relations at the Texas Bankers Association, on LinkedIn.

TCB chairman and CEO Duncan Stewart says that the Houston community bank team arrived early, hired additional SBA experts to assist in the processing, and worked evenings and weekends to approve and process PPP loans, all in support of their local business owners and employees.

"I could not be more proud of our team and what they have accomplished in the last two weeks," says Duncan. "Their dedication and sacrifice were commendable — what they did truly mattered. This is a historic time. Many years from now, they can look back with great pride in the part they played over these weeks to save companies and the livelihoods of their employees."

"A huge thank you to Texas Citizens Bank for their amazing work on behalf of Trinity," wrote Bryan Kreitz, president of business development at Trinity (TLD), on LinkedIn. "I will no longer make jokes about 'banker's hours,' as they were responding to emails at all hours of the day and night."

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Visit here for more information on PPP loans. Wondering about finances during the pandemic? This article outlines several options.

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Building Houston

 
 

innovation delivered

Self-driving pizza delivery goes live in Houston

Domino's and Nuro announced their partnership in 2019 — and now the robots are hitting the roads. Photo courtesy of Nuro

After announcing their partnership to work on pizza deliveries via self-driving robots in 2019, Dominos and Nuro have officially rolled out their technology to one part of town.

Beginning this week, if you place a prepaid order from Domino's in Woodland Heights (3209 Houston Ave.), you might have the option to have one of Nuro's R2 robot come to your door. This vehicle is the first do deliver completely autonomously without occupants with a regulatory approval by the U.S. Department of Transportation, according to a news release.

"We're excited to continue innovating the delivery experience for Domino's customers by testing autonomous delivery with Nuro in Houston," says Dennis Maloney, Domino's senior vice president and chief innovation officer, in the release. "There is still so much for our brand to learn about the autonomous delivery space. This program will allow us to better understand how customers respond to the deliveries, how they interact with the robot and how it affects store operations."

Orders placed at select dates and times will have the option to be delivered autonomously. Photo courtesy of Nuro

The Nuro deliveries will be available on select days and times, and users will be able to opt for the autonomous deliveries when they make their prepaid orders online. They will then receive a code via text message to use on the robot to open the hatch to retrieve their order.

"Nuro's mission is to better everyday life through robotics. Now, for the first time, we're launching real world, autonomous deliveries with R2 and Domino's," says Dave Ferguson, Nuro co-founder and president, in the release. "We're excited to introduce our autonomous delivery bots to a select set of Domino's customers in Houston. We can't wait to see what they think."

California-based Nuro has launched a few delivery pilots in Houston over the past few years, including the first Nuro pilot program with Kroger in March 2019, grocery delivery from Walmart that was revealed in December 2019, and pharmacy delivery that launched last summer.

From being located in a state open to rolling out new AV regulations to Houston's diversity — both in its inhabitants to its roadways, the Bayou City stood out to Nuro, says Sola Lawal, product operations manager at Nuro.

"As a company, we tried to find a city that would allow us to test a number of different things to figure out what really works and who it works for," Lawal says on an episode of the Houston Innovators Podcast. "It's hard to find cities that are better than Houston at enabling that level of testing."

Steam the episode here.

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