Bankers alert for more changes to federal recovery loan programs
Written by Kylea Henseler on July 14, 2020
Bankers are reading tea leaves trying to discern possible changes to two federal lending programs geared for recovery from the pandemic-induced national slowdown.
After attending a July 1 roundtable for leaders of small and midsized banks at the Treasury Department with Treasury Secretary Steven Mnuchin and Texas Sen. Ted Cruz to discuss possible changes to the Main Street Lending Program and the popular Paycheck Protection Program (PPP), Miami’s Dan Sheehan, Professional Bank Chairman & CEO, said one possible change to the PPP discussed was the idea of “fast-tracking” forgiveness for smaller loans.
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