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The U.S. Small Business Administration will reopen the Paycheck Protection Program loan portal to small lenders today.
Lenders with $1 billion or less in assets for first- and second-draw applications can submit those applications starting at 9 a.m. The SBA will fully open the portal to all participating PPP lenders Tuesday.
Earlier in the week, SBA began taking applications from community financial institutions, lenders whose customers are minority-owned and economically disadvantaged businesses. Today, 5,000 more lenders can access the process, including community banks, credit unions and farm credit institutions.
“A second round of PPP could not have come at a better time, and the SBA is making every effort to ensure small businesses have the emergency financial support they need to continue weathering this time of uncertainty,” said SBA Administrator Jovita Carranza. ....

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