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Financial Institution Letter

Banker Webinar: How to Become a Paycheck Protection Program (PPP) Lender

April 22, 2020  |  FIL-49-2020

Summary:

The FDIC, the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, and the National Credit Union Administration (the agencies) will host a webinar for bankers on Thursday, April 23, 2020, from 11:00 a.m.to 12:00 p.m., Eastern Daylight Time (EDT). Bankers will have the opportunity to hear directly from officials within the Small Business Administration (SBA) regarding the Paycheck Protection Program (PPP). The program was established by the CARES Act and implemented by the SBA with support from the Department of the Treasury.

Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.

Highlights:

  • SBA officials will provide an overview of how to apply to become a PPP lender and how to understand what to expect as you apply; accessing SBA loan systems; originating loans; entering applications into SBA systems; and where to find additional guidance as the PPP evolves.
  • This webinar is for lenders who are not currently SBA lenders. There will be a brief Q&A session. Participants are encouraged to email questions in advance to asktheregulators@stls.frb.org.
  • Participants must preregister for the event at https://www.webcaster4.com/Webcast/Page/583/34462.
    To accommodate the participation of as many financial institutions as possible, we ask each institution to register no more than two representatives to attend the live session.
  • Webinar materials will be archived at www.askthefed.org in the "All Calls" tab and can be accessed a few hours after the webinar ends.

Other resources for bankers include:

The FDIC Coronavirus Webpage contains related FILs, Press Releases and resources for financial institutions and consumers;

The FDIC Coronavirus Small Business Webpage contains FILs, Press Releases and resources for financial institutions on small business initiatives;

The SBA's PPP Webpage; and

The U.S. Treasury Department's Assistance for Small Businesses Webpage.

Suggested Distribution:

FDIC-Supervised Institutions

Suggested Routing:

Chief Executive Officer
Chief Financial Officer
Chief Credit Officer
Board of Directors

Related Topics:

SBA and Treasury Programs Available for Small Business Relief
Interagency Statement on Pandemic Planning
FAQs for Financial Institutions Affected by the Coronavirus

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).