Banks are warning that a beleaguered $350 billion small business rescue program could become even more backed up Friday when the nation's self-employed business owners will be eligible to apply for the government-backed loans
Banks are warning that a beleaguered $350 billion small business rescue program could become even more backed up Friday when the nation's self-employed business owners will be eligible to apply for the government-backed loans.
Banks said Thursday they were still awaiting details from the Treasury Department and Small Business Administration about how to handle loans for the new group of businesses set to apply. Among the banks' big questions: how to account for payroll for business owners who are self-employed. "There is a complete lack of detail for tomorrow," Tioga State Bank President and CEO Robert Fisher said Thursday afternoon. "I am a little more than concerned right now, considering we are a half day away from that rolling out."
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