WASHINGTON (Reuters) – The Small Business Administration on Wednesday said it would be temporarily closing its Paycheck Protection Program (PPP) assistance program for small businesses to all but the country’s smallest lenders, in a bid to give them fair access.
“To ensure access to the PPP loan program for the smallest lenders and their small business customers, starting at 4 p.m. today EDT through 11:59 p.m. EDT, SBA systems will only accept loans from lending institutions with asset sizes less than $1 billion dollars,” the agency said.
(Reporting by Michelle Price; Editing by Chris Reese)
