The SBA Paycheck Protection Program: Challenges and Opportunities for Community Banks

Laurel Sykes (EVP Chief Compliance and Risk Officer), Paul Abramson (EVP Chief Technology Officer, and Eusebio Cordova, Jr. (EVP Chief Credit Officer) continue the discussion on pandemic response. In this episode, they discuss phase 1 and phase 2 of the Small Business Administration's Paycheck Protection Program (PPP) - including setting up a portal to accept applications, reviewing and submitting completed applications to the SBA, rolling out loan documentation, and, ultimately, funding over 500 loans in four weeks.