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Local lender ready for PPP loans despite questions

mortgage

Small business owners will soon get relief from payroll woes as the Paycheck Protection Program gets underway.

Small businesses will be able to file for this help beginning today but there might be problems developing with the process.

The SC Small Business Chamber of Commerce reported that some small businesses are experiencing difficulty with their SBA lenders not wanting to process PPP loans.

The Chamber warns that this process could take more time than originally anticipated. The problem is that there is little guidance about how these loans will be forgiven.

South Carolina has a number of SBA approved lenders.

“Countybank is processing applications for the PPP,” said Paul Pickhardt, senior vice president and SBA lending manager for Countybank. “Completed applications will be forwarded to the SBA starting tomorrow.”

He notes that they are only accepting applications from current business clients.

The Paycheck Protection Program is a part of CARES Act signed into law last Friday. The PPP loans can be used for payroll, rent, utilities and mortgage interest.

These PPP loans are 100% forgivable as well.

COVID-19

LATEST DEVELOPMENTS

With breakthrough cases, how do we know the vaccine is working? Well, look at the proof.

Updated

COVID-19 deaths and cases in the U.S. have climbed back to levels not seen since last winter, erasing months of progress and potentially bolstering President Joe Biden’s argument for his sweeping new vaccination requirements.

COVID-19 takes a toll. In Abbeville, that toll is getting bigger.

There are two weeks left until the first intersession for Greenwood and McCormick county schools, a break away from school as part of the modified calendar.

Anyone wanting a COVID-19 vaccine from Self Regional Medical Center will have to go to the Support Services Center starting Monday.

Across the holiday weekend, state health officials reported more than 20,000 new cases of COVID-19 and nearly 200 deaths from the virus, according to Brannon Traxler, state Department of Health and Environmental Control director of public health.

Coronavirus (COVID-19)

As the Lakelands and the country respond to the novel coronavirus pandemic, which has led to state and national emergency declarations, it is vital for everyone to have up-to-date information about the virus and its spread. As such, we're providing free access to all of our COVID-19 coverage, which is available on this page.

Here's the latest information on COVID-19 from health agencies and hospitals: