Community banks: adding lending tools to leverage PPP momentum
- August 4, 2020
Managing Partner, Board Member
Global Head of Financial Institutions
Kennett Square, PA
SummaryIn a piece written for BAI, Matt Tevis highlights how smaller institutions are thinking about how they can retain and broaden their new commercial relationships.
Many community banks received high marks from commercial borrowers for their support throughout the SBA’s Paycheck Protection Program (PPP) loan application process. These institutions had to react quickly and took advantage of their local decision-making and focus on meeting borrower needs. As some larger financial institutions stumbled through the process and frustrated existing clients, many community banks were able to establish relationships with these borrowers. Now these smaller institutions are thinking about how they can retain and broaden their new commercial relationships.
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