SBA PPP Loan Fees

Yes, this is frustrating. How are you accounting for the fees given the delay? We are planning to set up the fee on each loan and recording a receivable.

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Renee Wood
Executive VP & CFO
Consumers National Bank
Minerva OH
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Original Message:
Sent: 05-20-2020 09:21
From: Jon Drake
Subject: SBA PPP Loan Fees

Anyone else getting frustrated/fed up with the continual "kicking the can down the road" on the reporting of PPP loans and getting our fees?  Supposed to be within 5-10 days after funding.  Going on almost 2 months now and no fees.  Now, another delay to May 29, 2020.

The interesting thing is the fees were included in the appropriated amount (at least for the first round), so theoretically, the money is there.  Reminds me of the Wendy's commercial in the 80's.  "Where's the beef?"

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Jon Drake
Senior EVP & CFO
Peoples Bank
Lubbock TX
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