ICBA Chairman Robert Fisher is scheduled to testify this Wednesday at a House Small Business Committee hearing on what’s next for Paycheck Protection Program forgiveness.
Hearing: The president and CEO of Tioga State Bank in Spencer, N.Y., will discuss community bank PPP lending, loan forgiveness, and efforts to streamline the forgiveness process.
Forgiveness: The SBA on Aug. 4 launched a Direct Borrower Forgiveness Portal for certain borrowers to streamline forgiveness. Some community banks have chosen not to use the portal, preferring to guide their customers through the forgiveness process themselves.
Background: Community banks were the top PPP lenders, accounting for some 60 percent of its total loan amount and 58.3 percent of the nearly 49 million jobs saved by the program.
Resources: Additional PPP information is available on ICBA's PPP Resources page.