Thursday, December 3, 2020

Answering more PPP questions …

Your OBA has been inundated with queries about the new PPP and how to make certain it does what it’s supposed to do. One of the things we’ve heard about more than once is the E-Tran security request issues. According to our District SBA office, here’s what the SBA is doing NOW to improve and adjust this problem while preserving IT infrastructure security.

1.SBA is running a script to enable all lenders that previously had an account with CAFS (Capital Access Financial Systems which is the portal to E-Tran) to be automatically reactivated.

2. Any NEW USERS still must go through the security protocol to receive a user ID and password. That protocol can be found at these links:

Another question we’re getting frequently is about who is and isn’t eligible for these PPP loans. This is what we got from the SBA District office:

Churches(that are 501(c)(3)are eligible as non-profits The loan interest rate has been doubled from what was initially proposed to 1% ag businesses that are ineligible in the everyday SBA world are, in fact, eligible in this specific program.

Keep sending your questions to Roger (roger@oba.com) and Adrian (adrian@oba.com). Even if we don’t know the answer now. We will continue to seek the answer!