Local lenders prepare for fast and furious second round of PPP loans

BANKNEWPORT is among local lenders gearing up for another round of applications via the U.S. Small Business Administration's Paycheck Protection Program. / COURTESY FARRAR ASSOCIATES/DAVE HANSEN
PROVIDENCE – “A breath of fresh air” is how Leland Merrill, chief lending officer and chief operating officer of BankNewport, described it when the funding for small business payroll relief ran out. A break in the constant funnel of 1,200 applications into the electronic portal for the U.S. Small Business Administration’s Paycheck Protection Program meant…

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