Articles

Banks experienced technical issues when trying to process applications on the SBA’s online portal. They also received continually changing the information on how to proceed.

“The rules were pretty complicated,” said Jim Wilson, spokesman for Baker Boyer Bank, a Walla Walla-based community bank with locations throughout South-central Washington, including Yakima and the Tri-Cities. “The guidance was updated almost daily.”

Over several days, the bank was able to put together an application packet, which emphasized the need for businesses to work with an accountant to meet the extensive application requirements.

That meant firms without an accountant were at a disadvantage, Wilson said. “That’s the place where people got stuck,” he said.

Read the full Yakima Herald Article here.