Browsing: Small business

Commercial Lending

As the Small Business Administration works to resolve several issues with the Paycheck Protection Program flagged by ABA earlier this week, it issued a procedural notice late Wednesday night outlining how it will move forward with the processing of second-draw PPP loan applications for borrowers who still have an unresolved issue related to their first-draw loan.


In response to a letter from the American Bankers Association yesterday highlighting “systemic” issues with the Paycheck Protection Program since its reopening earlier this month, the Small Business Administration today announced several steps it will take to ensure that second-draw PPP loans can be processed efficiently.

Commercial Lending

The Small Business Administration announced today that the Paycheck Protection Program will officially reopen on Monday, Jan. 11, only to community development financial institutions, minority-depository institutions, certified development corporations and microloan intermediaries making first-draw PPP loans.

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