The Paycheck Protection Program, designed to save jobs and stimulate the economy by providing forgivable loans to small businesses hurt by the coronavirus, is also creating another winner: banks.
Banks that made the government-guaranteed PPP loans to small businesses are set to collect billions of dollars in fees directly from the Small Business Administration, according to a new analysis by S&P Global Market Intelligence.
Through the end of June, more than $521 billion in PPP loans had been approved, according to the latest data from the SBA.
