Vista Bank SVP Lending and PPP Director Marcus Williams sat down with WFAA Anchor, Kara Sewell, to talk Round Two PPP Loans, on Tuesday, January 19, 2020. The interview was timely as community banks like Vista were able to start submitting Round Two PPP loans as of that day.
They reviewed the main differences from Round One including maximum loan amounts and expansion of covered expenses, among others. When asked about working with the same lender that handled a business’s Round One PPP loan, Williams advised business owners to take that approach given the cap on the program funds and the fact that prior lenders would have the necessary background information to be able to submit efficiently. He followed that recommendation by clarifying we are assisting current clients first for the same reasons and will quickly assist new clients as we get our current clients submissions in the portal.
For final advice to businesses – Williams noted that time is of the essence and if you qualify, don’t hesitate to start the process.