When autocomplete results are available use up and down arrows to review and enter to select.
The Paycheck Protection Program closed to new loan applications more than a year and several iterations after the emergency program was enacted.
Funding: In a call Friday, SBA officials said they expected PPP funds to be exhausted before yesterday’s deadline, though the agency is withholding some funds to accommodate loans with remaining hold codes that need resolution. SBA has until June 30 to complete processing loan approvals.
Guarantee Guidance: The officials also said the SBA expects to soon issue procedural guidance on when and how lenders can ask the agency to purchase loans pursuant to its guarantee. Claims will be submitted through the lender platform.
Forgiveness Requests: Further, the SBA is working to further streamline and expedite the processing of forgiveness requests with a goal to process all requests within 30 days of receipt, according to the officials.
More: Additional PPP information is available on ICBA's PPP Resources page.
Previous News
The Federal Reserve Board requested public comment on proposed changes to its policy governing the provision of intraday credit, or daylight overdrafts, to healthy institutions with accounts at the Federal Reserve Banks.
ImageJun 1, 2021
The Alternative Reference Rates Committee said it is holding an event next week on the impact of the transition from LIBOR to the Secured Overnight Financing Rate on the derivatives market.
ImageJun 1, 2021
With about 34,500 new cases reported last week, the US saw the lowest number of weekly Covid-19 cases among children since early October, the American Academy of Pediatrics said Tuesday.
Image
Jun 1, 2021
Related News Taxonomy
