Dacotah Bank explains Paycheck Protection Program loans

KELOLAND Living

The federal government’s Paycheck Protection Program is offering $350 billion in loans designed to help small businesses weather the COVID-19 pandemic. The program has attracted widespread interest, but it’s also raised plenty of questions from both borrowers and lenders. Galen Van Otterloo, a Business Banker with Dacotah Bank, helps answer some of those questions. The program was created by the 2.2 trillion dollar stimulus bill that, among other things, is trying to throw a lifeline to small businesses that need money now, before the coronavirus outbreak permanently closes their doors.

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