With the Senate considering Paycheck Protection Program reforms after the House passed its reform bill last week, community banks should urge lawmakers to enact recommended changes, ICBA President and CEO Rebeca Romero Rainey wrote.
Romero Rainey urged community bankers to use ICBA's Be Heard grassroots action center to advocate greater PPP flexibility, such as providing small businesses more time to spend PPP funds, reducing how much must be spent on payroll costs, and allowing a forgiveness presumption of compliance for loans of $1 million or less.
Meanwhile, ICBA offers a customizable message for small-business owners that community bankers can share with their customers to urge the Senate to act.