Small business loan program will be handled through local banks

PIERRE, S.D. (WNAX) – A federal loan program guaranteeing payrolls for small businesses will be handled through local banks.

South Dakota Bankers Association President Curt Everson says they are still getting details of the program.

Everson says the banks are ready to help where and when they can.

Everson says businesses can get their information ready now while federal authorities clarify the rules.

Congress set aside up to $350 billion for the payroll protection plan.