PPP Changes in Year End Stimulus Bill
By now you have heard countless reports of Congress’s passage of a comprehensive relief bill to address the ongoing economic effects of the coronavirus pandemic. The measure includes some much overdue good news for community bankers ready to buckle under the weight of PPP forgiveness efforts. And it casts a framework for continuation of PPP for new borrowers or borrowers that continue to suffer due to the pandemic.
The ICBSD team has prepared a comprehensive summary of changes coming in the next round of the Paycheck Protection Program (PPP), including some analysis of how those changes affect existing PPP loans. While there are rules yet to be promulgated that will bring the next round into greater focus, we believe this information will serve you well to get oriented to those changes.