ARLINGTON, Va.—NAFCU is offering a free webinar today to help credit unions better understand the process for offering loans through the Small Business Administration's new Paycheck Protection Program (PPP).
Just a day ahead of the launch of the program itself, the SBA last week released an interim final rule to implement the program. In response, NAFCU developed an FAQ document answering 22 questions credit unions are likely to face as they consider participating in the program (see related story).
Previous guidance from the Treasury Department indicated all federally-insured credit unions will be able to offer loans under the program, but those that are not currently SBA-approved lenders must submit an application to become one.
During today’s webinar, set to begin at 4 p.m. ET, credit unions will hear from Steve Meirink, executive vice president and general manager of compliance solutions in the Governance, Risk & Compliance division at Wolters Kluwer.
Meirink will provide guidance related to the Paycheck Protection Program, highlight the most pressing market needs, and explain the best ways credit unions can make the program work for members in need of small business loans during the coronavirus pandemic, NAFCU said.
While the webinar is free, registration is required.
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