Bank of America (tkr: BAC) CEO Brian Moynihan provided an update about the SBA / PPP loans (tranche II) after Friday’s market close.
Approximately $24 billion will be extended to 231,000 small businesses. 50,000 promissory notes have been issued and the remaining 180,000 will be extended over the weekend (additional information in the table below).
The other interesting comment made by Moynihan was that a number of BAC employees may not return to the office until a COVID vaccine is available. It is difficult to pin this down as official Bank of America policy (we would not take it as such) as Moynihan made the remark as part of a larger commentary (16:50 mark in the YouTube video below).