PPP Flexibility Act Turns Temporary Stimulus Program into a Long-Lasting Digital Priority for Lenders

Since the passage of the Paycheck Protection Program (PPP) in March, financial institutions and technology vendors have worked overtime to process applications and distribute funds in support of small businesses and their employees negatively affected by the coronavirus pandemic. The PPP has been a godsend for many of the 4.9 million borrowers that received $521 billion through June 30.