January 25, 2021

SBA Rolls Out More Paycheck Protection Program Materials

The U.S. Small Business Administration’s Paycheck Protection Program is now open through most lenders and to businesses seeking a first, or a second loan. To help businesses determine how much they can borrow, on January 19, the SBA released the following new or revised documents:

The SBA said that, in the first week back online, nearly 60,000 borrowers were approved for more than $5 billion in loans. The average PPP loan was below $20,000 for first-time borrowers and less than $75,000 for second-time borrowers that applied last week.