Paycheck Protection Program Must Be Extended And Replenished To Help The Smallest Businesses forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
The application process was a mess in the first rounds of the Paycheck Protection Program. Fintechs say their efforts will make it go smoothly in the latest iteration.
Your application may be delayed. The PPP is likely to be extended to May 31. Because of the volume of applicants, Lendio is prioritizing the processing of PPP loan applications that have already been submitted to us. If you are just now applying for PPP, there will be a 14-day delay before your application is processed. Although the PPP was originally scheduled to close 03/31/21, there is bi-partisan support in congress to extend the deadline to 5/31/21.
Your application may be delayed. The PPP is likely to be extended to May 31. Because of the volume of applicants, Lendio is prioritizing the processing of PPP loan applications that have already been submitted to us. If you are just now applying for PPP, there will be a 14-day delay before your application is processed. Although the PPP was originally scheduled to close 03/31/21, there is bi-partisan support in congress to extend the deadline to 5/31/21.
The measure, just the second of its kind the nation, mandates that fintechs, factoring firms and other nonbank small-business lenders clearly explain the terms and conditions to borrowers.