The U..S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for more than $5 billion, between the program’s re-opening on Monday, Jan. 11, through Sunday, Jan. 17. Last week, the PPP provided dedicated access to community financial institutions that specialize in serving underserved communities, including minority- women-, and veteran-owned small businesses from Monday through Thursday, joined Friday by smaller lenders.
As of Jan. 19, the Paycheck Protection Program is open to all participating lenders.
The Paycheck Protection Program remains open for First and Second Draw PPP loans until March 31, as set forth in the Economic Aid Act, or until Congressionally-appropriated funding is exhausted.
