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1640 Powers Ferry Road SEBuilding 28, Suite 100Marietta, GA 30067-1425 770.541.4490 | June 12, 2020The Honorable David PerdueThe Honorable Kelly LoefflerUnited States SenateUnited States SenateWashington, DC 20510Washington, DC 20510Dear Senators Perdue and Loeffler:On behalf of the Community Bankers Association of Georgia (CBA of GA) and Georgia’s 150 community banks, I am writing to request your support for the recommendations outlined in the attached letter sent to Secretary Mnuchin and SBA Administrator Carranza on June 8, 2020 from The Independent Community Bankers of America (ICBA) . While the passage of the Paycheck Protection Program Flexibility Act (H.R. 7010) does indeed offer some much-needed flexibility, the overall forgiveness process and application remain much too complicated and burdensome for small businesses and community banks to understand and complete. Based on my conversations with community bank CEO’s across the state, the issues outlined in the ICBA letter are of significant concern. As you know, community banks were the true heroes of the PPP program. In the all-important Round #1 of PPP, with Georgia’s small business suffering from the effects of the forced economic shutdown, community bankers from all across our great state literally worked day and night to navigate the ever changing rules and requirements to make sure the small businesses of their communities were served. The strong commitment of Georgia’s community banks continued into Round #2 and remains fervent to this day. In contrast, the nation’s largest banks and credit unions were virtually inactive in the critical Round #1. As you know, almost all the largest banks in the country remain in operation only because of past taxpayer bailouts and credit unions are fully tax-exempt costing the Georgia taxpayer millions of dollars each year. In my humble opinion, this sad irony should not be lost on legislators and policy makers. The suggestions outlined in the ICBA letter will go a long way towards helping Georgia’s small businesses get back on their feet and will provide much needed process clarity for the state’s community banks. I greatly appreciate your consideration of these suggestions and stand ready to answer any questions you may have.Respectfully, John A. McNairPresident/CEOThe Community Bankers Association of Georgia ................
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