Thanks to a new system launched on April 8, hundreds of U.S. lenders now have access to the U.S. government’s $350 billion Paycheck Protection Program (PPP) to help small businesses affected by COVID-19.
Lenders who have never previously registered with the Small Business Administration can now do so online. The new online portal addresses one of several problems with the PPP that banks say have delayed getting much-needed funds to customers.