From 4 p.m. EDT through 11:59 p.m. EDT today, U.S. Small Business Administration (SBA) systems will accept Paycheck Protection Program (PPP) loan applications from only lending institutions with asset sizes less than $1 billion.
The move is being made to ensure access to PPP funds for the smallest lenders and their customers. Following the reserved processing period, all lenders, regardless of asset size, will be able to submit loan applications.
AMCA members and their customers who qualify should reach out to their banks to ensure they submit during this window.
