Eric Corrigan quoted in Portland Tribune article “Payroll Protection Program loans help but businesses still hurt”

May 8, 2020

In a wide-ranging article on the effects of the Coronavirus pandemic on businesses, Eric Corrigan is quoted on the PPP and how it has worked so far.

Eric Corrigan, managing director of Commerce Street Capital, says a third round of funding will be needed. Like others, he said the SBA was unprepared to process $350 billion of notes in 10 days and had antiquated systems, and offered limited and conflicting guidance and no documentation. Smaller banks stepped up and had employees pull seven-days-a-week, 18-hour days to process loans.

Read the article at the Portland Tribune
“Payroll Protection Program loans help but businesses still hurt”