Montecito Bank & Trust Secures $13.5 Million for Santa Ynez Valley Businesses

Santa Barbara, Calif. – Montecito Bank & Trust (MB&T) has been actively participating with businesses across the Santa Ynez Valley and the larger Central Coast since early April, as the Small Business Administration (SBA) introduced their much anticipated Paycheck Protection Program (PPP) for businesses, organizations and independent contractors across the country. As of Tuesday May 5, 2020 MB&T is proud to have secured $13.5 million for 141 businesses across the Santa Ynez Valley, including $5.9 million for 62 businesses in Solvang, California. The Bank plans to participate in the program until the funds are exhausted, and is still accepting PPP applications from eligible clients and non-clients across Santa Barbara and Ventura Counties. While funding is not guaranteed, interested applicants can submit an online request at and a specialist will reach out to take the application over the phone. Additional information and suggested preparation steps can be found on the website at

Inspired by her team’s unwavering commitment to helping the communities they serve, CEO and Chairman Janet Garufis commented “Our goal is to secure as much PPP funding as we are able to for eligible businesses, organizations and individuals across the Central Coast. Our team is prepared to continue accepting and submitting applications until the SBA’s funds are depleted. This is one of the greatest challenges of our lifetime, but our communities will prevail and Montecito Bank & Trust will be there every step of the way.”

In April, Montecito Bank & Trust earned the highest marks from both The Findley Reports and Bauer Financial, two independent services which rate the financial performance of banks. Montecito Bank & Trust received a 2018 designation of a Super Premier Performing bank by The Findley Reports, and has been designated a Premier Performing or Super Premier Performing bank 34 times since it opened its doors 44 years ago. The bank was also awarded a 5-star, Superior Bauer rating for December 31, 2018 financial data.

Montecito Bank & Trust is the oldest and largest locally owned community bank in the Santa Barbara and Ventura counties. Founded in 1975, the bank celebrated its 45th anniversary on March 17, 2020 and operates 11 branch offices in Santa Barbara, Goleta, Solvang, Montecito, Carpinteria, Ventura, Camarillo and Westlake Village. Montecito Bank & Trust has a history of unwavering corporate philanthropy in the local communities it serves, annually donating 1.5 million dollars and volunteering over 7,500 hours to nonprofit organizations in Santa Barbara and Ventura counties. Awarded the 2017 Bank of the Year (Western Independent Bankers) from among more than 550 independent community banks headquartered in 13 western states the bank offers a variety of competitive deposit and lending solutions for businesses and consumers, including business loans and lines of credit; commercial real estate finance; SBA loans; mortgage loans, consumer loans; credit cards; merchant services; and online services, including mobile banking and cash management. Its Wealth Management Division provides comprehensive trust services and full investment management for all branch office markets. The Bank has earned 19 Best Bank awards in the last 7 years, in addition to numerous accolades for Best Mortgage and Best Financial Services Company in Santa Barbara, Best Investment Company in Santa Ynez Valley and the third Best Bank to Work For in the United States (American Banker Magazine).