While PPP loans grab dollars, small business loans suffer

Several reports show banks are doing less loans outside of the federal relief program.

  • By Business Observer Staff
  • | 8:59 a.m. September 14, 2020
Courtesy. St. Petersburg-based First Home Bank handled more than 9,500 PPP loans.
Courtesy. St. Petersburg-based First Home Bank handled more than 9,500 PPP loans.
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Community banks based on the Gulf Coast, from Polk to Collier County, handled more than 24,000 federal Payment Protection Program loans from early spring through the summer, totaling well over $1 billion. Companies receiving those loans — the PPP program ended Aug. 8, pending a possible government renewal of it — used the funds to save hundreds of thousands of jobs.

 

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