The SBA announced that the Paycheck Protection Program will reopen on Monday, January 11th. On this date, SBA will only be accepting applications for loans from small business that have yet to receive a PPP loan or so called “first-draw” loans. Additionally, it will only be accepting applications from community financial institution lenders.
On Wednesday, January 13th, small businesses applying for a second PPP loan will be able to do so, but only with community financial institutions.
Shortly thereafter, the PPP will open up to all participating lenders.
