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PPP loan update

SBA Opens Portal for Small Lenders on 1/15 and All Lenders on 1/19

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The U.S. Small Business Administration will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 am ET.

The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.

More information on the PPP loan program can be found at https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses

Applications for the second draw loans can be found at https://home.treasury.gov/system/files/136/PPP-Second-Draw-Borrower-Application-Form.pdf with additional information at https://home.treasury.gov/system/files/136/Top-line-Overview-of-Second-Draw-PPP.pdf.

For borrowers applying for the first time for the PPP loan, the application can be found at https://home.treasury.gov/system/files/136/PPP-Borrower-Application-Form.pdf with additional information at https://home.treasury.gov/system/files/136/Top-line-Overview-of-First-Draw-PPP.pdf

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