The processing time and mode will also be slightly altered from last year’s PPP process. The applications will go through a series of automated checks before a loan number is issued, Treasury officials said. That could slow processing time by about a day, but should reduce confusion and potential fraud, they said.
The SBA said it plans to connect borrowers, through its online Lender Match tool, to “small lenders who can aid traditionally underserved communities,” adding that certain hours will be dedicated to helping the “smallest PPP lenders” access the portal.
