On Wednesday, Dec. 23, our insights team held a special Q&A session where we invited lenders to ask us their most pressing questions on the new $284B Paycheck Protection Program legislation that passed on Monday night.
For those that didn’t get a chance to join, you can watch a replay of our breakdown of the bill from Tuesday, here.
In the time since we last spoke, there have been some developments around the legislation and the Small Business Administration has held a call with vendors to ensure they are ready to support banks and credit unions in the next round of lending.
The webinar above contains a breakdown of updates from our call with the SBA, including:
- A look at how PPP originations will differ in this round compared to original rounds
- The change to real-time approvals that will be critical as lending resumes
- How users will be restricted from the platform
- Guidance on how funds will be “locked”
Hundreds of banks and credit union leaders joined us on Wednesday to have their PPP questions answered. Watch the on-demand webinar to share in their insights and make sure your institution is prepared when the new PPP legislation becomes law.