Banks Report E-Tran Difficulties; SBA Lowers PPP Bulk Submission Threshold

Banks of all sizes are reporting significant difficulties accessing the Small Business Administration’s E-Tran system after its reopening for Paycheck Protection Program loan applications at 10:30 a.m. today. “Our member banks across the country are deeply frustrated at their inability to access [SBA’s] E-Tran system,” ABA President and CEO Rob Nichols said in a tweet. “We have raised these issues at the highest levels. Until they are resolved, America’s banks will not be able help more struggling small businesses.” ABA will continue to monitor the status of the E-Tran system and will communicate to member banks as needed.

SBA and the Treasury Department today also announced that they have lowered the minimum number of PPP loan applications required for lenders to make a bulk data submission to the E-Tran system from 15,000 to 5,000.

SBA announced last night that it would allow a one-time large bulk submission of XML files to the E-Tran system from each lender. Lenders should create a single XML file to send to SBA, using the standard 6.0 SBA .xml data set for each loan, delimited. Loan applications submitted in bulk will be processed individually by the E-Tran system, and each individual loan is subject to funds availability. SBA has updated its guidance on XML submissions to include the new 5,000 application minimum.

These XML files of 5,000 or more approved PPP loans must be submitted to SBA by 9 p.m. EDT today, April 27, 2020.