Earlier this week, the Small Business Administration and Treasury shared details on how Paycheck Protection Program (PPP) borrowers should calculate revenue reduction and maximum loan amounts for second-draw PPP loans. The guidance also lists the documents borrowers must provide to support each set of calculations. Adam Lutostanski (Head of Illinois Commercial Banking at Associated Bank) takes listeners behind the scenes by sharing details of how Associated Bank handled the first round of PPP loans, and why the next installment should be better.
As the Associated Bank Thought Leader conversation continues, Steve Grzanich and Adam talk about what to expect as far as mergers and acquisitions are concerned in 2021. They also discuss the importance of patience as the economy and society in general look to bounce back from the COVID-19 pandemic.