When the Paycheck Protection Program rolled out in the U.S., smaller community banks and credit unions stepped up to the plate and, according to the Small Business Association (SBA), ended up facilitating more than half of PPP loan volume to SMBs. Despite the recent positive press, community banks have traditionally been leaders in the small business arena well before the pandemic hit, said Chirag Shah, president and incoming CEO of Performance Trust.
NEWS & COMMENTARY
PYMNTS: Community FIs Battle Against Low Interest Rates To Help SMBs Thrive
September 25, 2020