San Antonio financial institutions making PPP loans once again
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The Small Business Administration reintroduced the Paycheck Protection Program Monday to offer low-interest, forgivable loans to businesses pummeled by the pandemic. A handful of smaller San Antonio institutions have been accepting loan applications. Bigger local banks will begin accepting applications Tuesday.Elise Amendola /Associated Press
With the Paycheck Protection Program rolled out again this week to extend aid to struggling small businesses, River City Federal Credit Union CEO and President Jeff Ivey put on another hat.
“Right now, I’m an SBA loan officer,” Ivey quipped, adding that San Antonio-based River City has been “swamped” with Paycheck Protection Program applications from borrowers. He had to step in to assist with the demand.