On Friday from 10 to 11 a.m., Eide Bailly is hosting a webinar to help borrowers and lenders understand how the SBA can help them during these uncertain times.
They have also created an FAQ page to address common questions community banks may have about these new loans. They’ve answered questions such as:
- What programs are available to our small business customers?
- How do I know what is the right relief for my customer?
- What should we do to become an SBA approved lender?
- What are the characteristics of the loans issued under the paycheck protection program?
- What are the underwriting requirements of paycheck protection loans?
- How does loan forgiveness work?
- Do banks receive origination/servicing fees for making loans under the paycheck protection program?
- What information will my customer need for the application process?
- How will funding paycheck protection program loans impact bank liquidity?
- What other items should a financial institution be considering?
To read the full FAQ, click here.
To visit Eide Bailly’s COVID-19 resource page, click here.
To register for the webinar, click here.