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NH Business Review
All banks will be taking applications starting Jan. 19
January 15, 2021
New Hampshire businesses and business organizations can apply for the latest federal Paycheck Protection Program forgivable loan program at small banks and credit unions beginning Friday and at any bank or credit union beginning Tuesday.
“We are excited,” said Joe Bator, executive vice president and senior lender at Bedford-based Primary Bank that approved more than 700 loans worth $92 million in the first two PPP rounds. It’s going to be a busy three-day weekend for us,” he said.
The PPP is rolling out more slowly this time in order to avoid the mad rush that crashed computers at the U.S. Small Business Administration, which both guarantees, approves and eventually forgives the loans if they are spent on payroll and other expenses. Large banks and large lenders dominated the program during the first rollout.