FDIC helping banks with PPP loans

WASHINGTON, D.C. (WNAX) – Many banks have been working overtime to help businesses and ag producers apply for “Paycheck Protection Program” loans through the Small Business Administration.

Many of the rules for the program are still being written and the head of the FDIC, Jelena McWilliams says they are helping banks work through those.

McWilliams says banks can use the information they get from the borrowers.

McWilliams says they want to help banks get the money out to their customers.

McWilliams held a web meeting last week with bankers from North and South Dakota.