Original Broadcast

Tuesday, July 28, 2020

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The tidal wave is coming, if it hasn’t reached you yet. Banks and other lending institutions are about to get flooded with applications for forgivable federal loans.

Under the Coronavirus Aid, Relief, and Economic Securities (CARES) Act of 2020, the Paycheck Protection Program (PPP) is the Federal government’s main effort to help small businesses withstand and overcome financial hardship related to the pandemic. Recent changes to the PPP program are resulting in a second wave of applications.

How will your institution handle this new work? Does it have the proper systems in place to ensure that customers get excellent service?

Join Marcum for a session aimed specifically at bankers and other lending institutions. We will provide a high-level overview of the Federal program and how you should prepare:

  • Overview of the CARES Act and its effect on banks: What you need to know to properly advise customers.
  • How lenders can develop a forgiveness compliance process.
  • Training staff / back office support.
  • Creating proper procedures.
  • Forgiveness calculators to assist customers and loan processors.

The guidelines are changing daily. Marcum has a national team staying on top of the rules, changes, and requirements – so you don’t have to do it yourself!

Our speakers represent Marcum’s national Coronavirus Resource Group:

Coronavirus Resource Center

Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.