Here’s what Pittsburgh banks expect with Tuesday’s big PPP rollout

Here’s what Pittsburgh banks expect with Tuesday’s big PPP rollout
NexTier CEO Clem Rosenberger thinks demand for PPP loans is going to be higher than originally projected — and he's not alone.

Pittsburgh — As Dollar Bank prepared for the 2021 relaunch of the Paycheck Protection Program, Dave Weber, senior vice president of commercial banking, conducted some informal market intelligence about anticipated demand by small business owners for forgivable loans.

“I’ve talked with other financial institutions and some other industry leaders and they actually put a number out there,” Weber said. “They thought it would be about 50% to 60% of whatever that bank did in Round 1.”

Dollar had asked businesses who were interested in applying for a PPP loan to register on its website, starting on Dec. 28, the day after the bill for the $284 billion program was signed.

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