An SBA Story: PPP Lessons Learned and What’s Next
Since the passage of the CARES Act on March 27 and with it the Paycheck Protection Program (PPP), a lot has happened in a condensed timeframe. The PPP’s goal of supporting small businesses through this difficult time was welcomed with open arms by the entire country, but the rollout was met with confusion and frustration from both lenders and hopeful borrowers. Last–minute changes to forms and guidance, uncertainty around promissory notes, and unclear forgiveness guidelines have left many financial institutions wary to participate.
With the initial $349 billion in funding exhausted, it’s time for us to reflect and review the events that have taken place and the lessons learned from the initial program. With another round of funding on its way, it is important that financial institutions are ready to act quickly. In this webinar, attendees can learn from those that successfully participated in the initial program and discover ways to be more effective and efficient in handling PPP loans in the future.
Join to learn:
- Quick overview of the Paycheck Protection Program
- How Sound Community Bank approached the program
- What we know about PPP forgiveness and other next steps