960,000 PPP Loans Made Through Wednesday Afternoon
As of 5 p.m. EDT today, ABA has learned, the Small Business Administration has approved more than 960,000 round two...
Commercial Lending
Fed to Hold Rates Near Zero; ‘Very Close’ to MSLP Term Sheet Release
With the coronavirus pandemic continuing to cause significant economic disruptions and sharp spikes in unemployment, the Federal Reserve will maintain...
SBA to Reserve PPP Loan Processing Time Today for Smaller Banks
The Small Business Administration announced this afternoon that it will reserve an eight-hour block of time for lenders with less...
SBA Clarifies PPP’s 10-Day Disbursement Window, Fee Payments
The Small Business Administration tonight issued an interim final rule providing clarity on the 10-day loan disbursement requirement under the...
Bank, Credit Union Groups Call for SBA to Resolve E-Tran Problems
ABA joined eight other trade associations representing banks and credit unions of all sizes and business models today in calling...
SBA: 475K PPP Loans Made as of Tuesday Afternoon
As of 1 p.m. today, the Small Business Administration said it had approved more than 475,000 loan applications submitted by...
SBA Ends Bot Access to E-Tran System
The Small Business Administration has restricted the use of robotic processing automation, or RPA, to enter Paycheck Protection Program loan...
Mnuchin: SBA to Review PPP Loans Over $2M
The Small Business Administration will conduct a “full audit” of Paycheck Protection Program loans made in amounts over $2 million...
Banks Report E-Tran Difficulties; SBA Lowers PPP Bulk Submission Threshold
At the urging of ABA, the Small Business Administration and Treasury Department announced this afternoon that they have lowered the...
Preventing Fraud in the Paycheck Protection Program
As banks process applications in round two of PPP funding, four key tips for banks to prevent fraud.
