04/10/2020

Bankers Provide Tips for PPP Loan Applications

The need for organizations to get emergency funding is growing

Cincinnati banks, like those across the country, have been inundated by applications from small businesses seeking money through the U.S. Small Business Administration's new Paycheck Protection Program.

But for companies rushing for cash, there are several things small-business owners need to be mindful of, bankers said.

Banks have been scrambling to handle the flood of applications since the program launched Friday. Fifth Third Bank (Nasdaq: FITB), Cincinnati’s largest local bank and the nation’s ninth-largest U.S.-based consumer bank, had received 22,000 applications as of midday Tuesday, CEO Greg Carmichael told me.

Please select this link to read the complete article from Cincinnati Business Courier.