On May 4, 2021, the Small Business Administration (SBA) announced that the PPP funds have been exhausted and the application portal is no longer accepting applications for loans.
Loan applications that have not yet received an SBA loan number have not been approved. Banks who have applicants in this situation may consider referring clients to Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs).
Questions? Contact our PPP expert, Annette, at (320) 214-2910.