Boston banks face another PPP slog: ‘Round 1 was awful. Round 2 was atrocious.’
April 28, 2020 at 06:10 AM EDT
At points Monday, local banks were only able to get roughly two PPP applications per hour through to the U.S. Small Business Administration, several executives reported. “The system just keeps kicking the applications back. It can’t accept them,” Eastern Bank CEO Bob Rivers said. It took the Dedham Institution for Savings four hours to successfully upload its first application, CEO Peter Brown said.