WCBI New at Six - 04/30/2020
North Alabama Bank CEO discusses Paycheck Protection Program
Banks faced a second day of problems after applications for a new round of the payment protection program started.
The website problems are frustrating business owners in north alabama and across the country.
Waay 31's ashley carter is live in huntsville.
One bank c-e-o who told her he spent more than 12 hours applying for the loan yesterday.
His struggles continued today.
Michael dempsey is the c-e-o here at north alabama bank.
He spent all day trying to process ppp loans for about 30 businesses... when i talked with him this morning, michael dempsey, ceo north alabama bank: "during the first 6 hours on the site, i was able to get in four applications."
That's four more than some banks.
North alabama bank ceo michael dempsey hoped to get through 30 applications on monday.
But after 14 hours in the office on monday, he returned tuesday morning to finish the last 10.
All banks faced similar issues because of repeated problems with the small business associations website.
Michael dempsey, ceo north alabama bank: "you would get through one page and it will kick you out, not save the data.
You'd have to sign back in or it'll give you an error."
Dempsey told me since he runs a smaller community bank that only serves people in madison county....being able to provide his customers with this loan is important...so every delay is extremely frustrating.
Michael dempsey, ceo north alabama bank: "businesses that are suffering and employees are suffering and they're promised this money as a way to help them out, and to keep the economy going.
It's just very frustrating, we're just trying to serve them and we're doing the best we can but we're limited based on the infrastructure that's in place."
Dempsey faced more site errors on tuesday but expects to get the job done for local businesses.
Michael dempsey, ceo north alabama bank: "i'll continue to refresh and sign in and get my applications finished."
I reached out to the small business administration asking if they have a plan to address these issues going forward and the reasoning behind them.
I am still waiting to hear back.
Live in hsv ashley c
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