Local lenders report slowdown in PPP applications but increased anxiety over forgiveness terms

BANKNEWPORT is among local lenders reporting a decrease in demand for the U.S. Small Business Administration's Paycheck Protection Program, though questions continue to pour in over uncertain terms of loan forgiveness. / COURTESY FARRAR ASSOCIATES/DAVE HANSEN
PROVIDENCE – The flood of applications from small businesses desperate for payroll relief has slowed to a trickle, local lenders say. But while demand for the U.S. Small Business Administration’s Paycheck Protection Program appears to have subsided, questions continue to pour in from approved applicants anxious about the details of having their loans forgiven –…

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