Posts Tagged ‘Paycheck Protection Program’

While many people are returning to the office after their July 4th festivities carrying on as usual, bankers can return knowing that the Federal Reserve Board has extended the Paycheck Protection Program Liquidity Facility until July 30th. The Paycheck Protection Program Liquidity Facility, or PPPLF, extends term credit to financial institutions making Paycheck Protection Program […]

Many banks found it challenging to capture and process loan applications that were submitted in response to the SBA’s Paycheck Protection Program (PPP). The program has been intense – many of our bank customers pulled operations staff off all other tasks to processes PPP applications, sometimes going 24 hours per day. We learned that some […]

Many banks are finding it challenging to capture and process loan applications that have been submitted in response to the SBA’s Paycheck Protection Program (PPP). We even learned that some banks missed out on the first round of PPP because they didn’t have a portal up and running to accept borrower applications. That’s a significant […]

In recent days, many articles have been published about how banks are challenged with processing loan applications that are submitted in response to the government’s Paycheck Protection Program (PPP), which, according to the Small Business Administration (SBA), “authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 […]