WI Banks and Credit Unions prepare to process payroll protection loans financial institutions across the state are eager to partner with consumers, ask for patience while awaiting additional guidance on new SBA Payroll Protection Program
MADISON, WI (April 3, 2020) — On behalf of Wisconsin’s community banks and credit unions, we want to assure the state’s small businesses that we are eager to be your partner in weathering financial challenges brought on by this unprecedented pandemic.
In addition to guidance and instruction provided specifically to small businesses, brief guidance on the Payroll Protection Program was provided to financial institutions earlier this week. The guidance has left us with still-unresolved questions and concerns, for which our industries are proactively seeking answers
As we wait and then process more comprehensive guidance–expected in the coming hours or days–we ask for your patience. Our institutions are working tirelessly to effectively and efficiently process your Payroll Protection loan applications as soon as possible, and, moreover, to help your businesses find financial security during these challenging times.
For information on how to apply, please visit https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses.
About Wisconsin Credit Union League
Founded in 1934, The Wisconsin Credit Union League is the dues-supported trade association for Wisconsin's credit unions-not-for-profit financial institutions cooperatively owned by their more than 3.4 million members. The League is dedicated to serving Wisconsin's credit unions and promoting the credit union difference through advocacy, education, and public service.
About Wisconsin Bankers Association
The Wisconsin Bankers Association is the state’s largest financial industry trade association, representing nearly 235 commercial banks and savings institutions, their nearly 2,300 branch offices and 21,000 employees.