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PPP update: Lending swells, but questions remain
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Banking
Tuesday, April 7, 2020
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The first days of the Paycheck Protection Program – the section of the federal stimulus act expected to funnel $349 billion in Small Business Administration (SBA) loans to businesses around the country through lenders – has seen a dramatic amount of action, despite some issues which appear to have limited full lender participation.
SBA has said to approved $50 billion since the program’s launch, but not all of those approvals have reached business accounts yet.
Read on for the latest from the agencies and lenders on the program.
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