Update on PPP Loan Program 4/10/2020

Things clearly aren’t going as smooth and quickly as we had all hoped.

I personally ended up going with my lender versus where my deposit accounts are. Not sure how that is going to work except I at least have a person that I can speak with.

Suffice it to say that nothing about this program is real clear. Here is what I think I know

• I don’t think anyone has been funded yet.
• Wells was out, but now appears to be back in.
• Chase and many banks seem very very slow.
• SBA guidance appears mushy.
• Congress is trying to add more money to the pot but who knows if they can agree.

Hang in there and keep pushing

04/10/2020
By: Gary Grottke, CPA, Quality Back Office