Urge the Senate to Pass Legislation to Forgive PPP Loans $150K and Under
As the Paycheck Protection Program enters the forgiveness phase, the process should be easy, simple and less technical for small business owners who borrowed $150k or less, which accounts for 86% of all PPP loans.
A Key Conduit For Economic Renewal
Bankers have always demonstrated their commitment to making a real difference in their local communities. They are one of the strongest partners for economic growth and stability. During the COVID-19 pandemic, bankers across America are relentlessly working and partnering with members of their communities to extend financial lifelines to families and small businesses, as well as supporting and expanding charitable initiatives. They are standing by their communities to help their local economies remain vibrant and growing.
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Did You Know?
The banking industry is the nation’s most important supplier of credit to agriculture providing approximately 50% of all farm loans in the U.S.—$183 billion as of December 2019. (Source American Bankers Association 2019 Farm Bank Performance Report)
Despite the increase in bank consolidations over the past two decades the number of total domestic bank offices has remained relatively unchanged from 86,248 in 2000 to 86,966 in 2019. (Source FDIC, Data as of 4Q 2019)