PIERRE, S.D. (WNAX) – Banks across the country are the conduits for federal dollars to help businesses stay afloat during the coronavirus disruption.
South Dakota Bankers Association President Curt Everson says they have seen heavy traffic.
Everson says the loans seem to work best for businesses that managed to stay open.
Everson says businesses need to keep good records and the loans will turn into grants.
Everson says they didn’t have specific state information yet from the Small Business Administration but they did report over $220 billion had been approved to 900,000 businesses across the country.