12 min
Culture Shock: The Behind-the-Scenes Story of the PPP We Were Economic First Responders
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- Business
Round one of the Paycheck Protection Program funds, $349 billion, was exhausted in under two weeks. Bankers had worked 80-hour weeks, on weekends and through evenings, to deliver the funds. For bankers, the speed, unpredictability, E-Tran challenges and ever-changing SBA process represented "culture shock."
On the second episode of "We Were Economic First Responders," a new podcast series from the American Bankers Association, bankers discuss how they overcame the hurdles of round one. As a new round of funds was debated in Congress, banks began gearing up to do it all over again—and some banks locked out of round one because of technology challenges redoubled their efforts to deliver relief to their customers.
Round one of the Paycheck Protection Program funds, $349 billion, was exhausted in under two weeks. Bankers had worked 80-hour weeks, on weekends and through evenings, to deliver the funds. For bankers, the speed, unpredictability, E-Tran challenges and ever-changing SBA process represented "culture shock."
On the second episode of "We Were Economic First Responders," a new podcast series from the American Bankers Association, bankers discuss how they overcame the hurdles of round one. As a new round of funds was debated in Congress, banks began gearing up to do it all over again—and some banks locked out of round one because of technology challenges redoubled their efforts to deliver relief to their customers.
12 min