SBA announces PPP process changes

February 11, 2021

The U.S. Small Business Administration (SBA) announced changes Wednesday, Feb. 10, designed to reduce delays in the Paycheck Protection Program (PPP) approval process.

The changes follow a range of issues stemming from additional validation checks that held up a significant percentage of PPP applications.

To address concerns raised, the SBA said it will allow lenders to directly certify the eligibility of borrowers for first- and second-draw loans. Additionally, the SBA will not require lenders to submit supporting documentation of borrowers with validation errors until they apply for loan forgiveness.

The changes aim to speed up the flow of funds to PPP applicants while “maintaining the integrity” of the program, the SBA said.

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