Traditional lending on back burner during pandemic
Written by Gabriel Poblete on May 19, 2020
While loans from the US Small Business Administration’s Paycheck Protection Program have taken much of the spotlight, some say traditional lending has seen decline amid the pandemic.
Luis de la Aguilera, president, CEO, and director of US Century Bank, said the banking industry had taken a stand-down position of focusing on the PPP loans, with millions of loans to process. He said bankers are like the first responders on the financial side, with his team working about five weekends around the clock, with work hours stretching past midnight and into the weekend.
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