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Banks Flooded with Questions Regarding Coronavirus Small Business Loans

April 6th, 2020 by WCBC Radio

The Small Business Administration began accepting applications for the Payroll Protection Program Friday in response to the economic freefall due to the Coronavirus pandemic. Businesses can apply for forgivable loans through their local banks, which will be backed up and covered by the SBA as long as they are used for payroll expenses, rent or mortgages, utilities, and other basic costs for business. Confusion, however, about the Small Business Administration loans is widespread at banks and among potential borrowers. The banks responsible for accepting the applications and distributing the money aren’t all up to speed and, inundated with inquiries, are relaying differing messages to their clients. Providing some clarification during an appearance on WCBC’s “Dave Norman Show”  was Timothy Zimmerman, CEO at Standard Bank in Cumberland…

1 comment on this post.
  1. Mark:

    Where’s all the locals complaining about these guys getting FREE HANDOUTS FROM THE TAXPAYERS?? Joe? Brian” Bob? Hello? Anyone there?? thought so.

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