The American Bankers Association joined eight other trade associations representing banks and credit unions of all sizes and business models today in calling on the Small Business Administration to resolve the E-Tran system access problems that have plagued round two of the Paycheck Protection Program. “Quite simply, it is taking too long to submit loans and get these funds where they need to go,” the groups said.
In addition to urging SBA to prioritize E-Tran access improvements, the groups also called on the agency to communicate transparently with the industry and the public about the problems. “If the pace and performance of the E-Tran system cannot be improved, then we ask that you share that information with the public to help manage expectations for all of the small businesses still counting on PPP for a lifeline,” they said, adding that they “have found the lack of transparency and timely guidance on the PPP process impedes the funding of loans to small businesses in need.”
