Area banks grappling with PPP small business loan program

Days after the nationwide launch of the Small Business Administration’s rollout of the Paycheck Protection Program, the Covid-19 assistance program for small businesses, there are still delays in the guidance that lenders use in considering whether, and how, to implement the loan application program. And locally as well as nationally, the money is still largely not going out to the businesses that need it.

One of the biggest issues small business owners have been encountering is that, initially at least, the loans could be processed only through Small Business Administration–authorized lending institutions. These included various offices of many large national banks, but relatively few smaller banks.

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