Round Two of PPP Loan Program Off to Rocky Start

Yesterday round two of the PPP loan program kicked off after Congress allocated an additional $310 billion to the program; following the launch there were complaints from both lenders and borrowers relating to delays and system glitches as the system was inundated with requests; the SBA’s infrastructure was never meant to handle this kind of volume; according to some complaints the portal was unresponsive within an hour and was down for the rest of the day; the SBA did make some attempts to improve the process from last time including asking banks to submit applications in batches of 15,000 loans which was subsequently reduced to 5,000; the SBA shared that they had processed 100,000 PPP loans through 4,000 lenders by late afternoon on Monday. The Wall Street Journal

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.