News Blog

December 4, 2020 – On December 1st, the Small Business Administration released public data about Paycheck Protection Program borrowers – specifically, the borrowers’ names, addresses, exact loan amounts, and who their PPP lenders were.  This was done by court order following lawsuits brought by media organizations seeking the data.  Today’s SBA release involves PPP loans under $150,000.  They released similar data on loans over $150,000 earlier this fall.

We want you to know that we, as your bank, did not publicly disclose the data and played no role in the court decision.  Our commitment to protect your privacy is paramount, and we follow all applicable laws and regulations.

Unfortunately, we have heard that some third party businesses are using information from the court-ordered data release to market themselves to PPP customers.  These communications may reference our bank’s name and may even imply that we have some kind of relationship.  You should be aware that we will communicate directly with you about your PPP loan and the forgiveness process.  If you have any doubt, please call us directly.

As always, our commitment is to your business’ financial health.  Thank you for your ongoing partnership.  Questions on this or any Paycheck Protection Program related matter should be e-mailed to SBA@decorahbank.com.

 

 

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