Sunday, November 29, 2020

PPP loans to resume on Monday morning

Paycheck Protection Program loans will resume through the Small Business Administration’s E-Tran platform at 9:30 a.m. (CDT) Monday.

President Trump signed a bill earlier today appropriating more than $320 billion for the PPP. Of this, a minimum of $30 billion will be set aside for community development financial institutions, banks and credit unions with less than $10 billion in assets. Another $30 billion at least will go to banks and credit unions with assets between $10 billion and $50 billion. (Institutions in these categories may originate PPP loans above these levels.)