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. Lastminute 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 

Abrigo was joined by an SBA representative to participate in the discussion and Q&A.

Meet Your Presenters

Christian Fobian

Christian serves as the AVP and Loan Systems Analyst at Sound Community Bank, where he manages software systems related to the lending department. With a strong background in both banking and technology, Christian was instrumental is getting his institution stood up and ready to accept Paycheck Protection Program loan applications. He received his bachelor’s degree from Liberty University and has spent 10 years at Sound Community Bank.  

Full Bio

Nolan Gesher

Nolan serves as Vice President – Client Services at Abrigo, where he brings an extensive background in the financial technology market. Nolan has a proven track record of helping financial institutions drive growth and manage risk as well as providing enablement, support, and leadership to help our customers be successful. Nolan earned his bachelor’s degree from the University of Delaware and his MBA from Rutgers University.

Full Bio

Paula S. King, CPA

Paula has held executive positions, including as Chief Financial Officer, in the banking industry for more than 25 years. As a former CFO, Paula has extensive experience in the design, preparation and reporting of the allowance for loan and lease losses, including ensuring compliance with regulatory and audit requirements, and creating allowance policies, procedures and processes. In addition, she has worked with loan operations and lending staffs and utilized the capabilities of a variety of core systems to ensure appropriate loan coding for optimal loan portfolio segmentation. Paula has been responsible for SEC and financial reporting, capital raising efforts and strategic planning, and has served as a Chief Risk and Compliance Officer. She has been responsible for overseeing daily operations for several banks and frequently served on internal credit committees. She co-founded a bank and served on its board of directors through its merger with another financial institution and has been a de novo bank consultant to boards and senior management teams.

Full Bio

Looking for Banker’s Toolbox? You are in the Right Place!

Banker’s Toolbox is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the login button here, or the link in the top navigation, to log in to Banker’s Toolbox Community Online.

Make yourself at home!