Due to the COVID-19 pandemic, Paycheck Protection Program (PPP) loans are a strange new addition to every banker’s reality. The role of the community bank and credit union has always been to serve customers and local businesses with compassion and trust. This responsibility has only been amplified by the current situation.
PPP loans help ensure businesses have funding to stay open and continue to pay their employees through the uncertainty of the crisis. Financial institutions play an essential role by assisting in creating, processing, approving, and allocating these loans.