Washington — The Small Business Administration will resume accepting Paycheck Protection Program loan applications at 10:30 a.m. EST on April 27 from “approved lenders on behalf of any eligible borrower,” the agency said.
In a statement posted late April 24, Small Business Administration Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin said the April 27 resumption date was to “ensure that [the agency] has properly coded the system to account for changes made by the [Paycheck Protection Program and Health Care Enhancement Act].” In addition to the increased funding, the legislation's main changes ensure that farmers and small rural hospitals can now apply for Paycheck Protection Program loans.
“We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously,” they said. “All eligible borrowers who need these funds should work with an approved lender to apply. Borrowers should carefully review [Paycheck Protection Program] regulations and guidance and the certifications required to obtain a loan.”
For more information on the Paycheck Protection Program, including a list of lenders by state, visit SBA.gov/paycheckprotection.
For detailed information on applying for the Paycheck Protection Program and Economic Injury Disaster Loans, Dental Practice Success has an article with step-by-step instructions.
For the latest updates about issues surrounding COVID-19, visit ADA.org/virus.