As of Tuesday, May 4, the SBA announced that the funding for the Paycheck Protection Program Extension Act had been exhausted, and the PPP application portal will stop accepting applications for loans. Regrettably, we are unable to take any new PPP applications at this time.
The SBA will not accept applications in progress or waiting for underwriting approval, and we will be contacting those businesses directly affected individually. We will hold the in-progress applications until the end of May if the situation changes and the SBA re-opens the program. If that should occur, we will notify applicants who had applications in progress and post a notice on our website.
We sincerely appreciated your patience as we all navigated the complexities of the SBA’s PPP Loan Program.