News Flash Jan 25, 2021, 08:00 ET
STAMFORD, Conn., Jan. 25, 2021 /PRNewswire/ — As the second week of the Paycheck Protection Program (“PPP”) gets underway, SBA Funding, a division of Business Funding Group, LLC, is actively facilitating applications for PPP loans being funded by a variety of U.S. Small Business Administration authorized lenders. Interested business owners can start their applications by visiting: https://go.sbafunding.com/PPP3.
“In the first two weeks of the program, SBA Funding has helped over 5,000 business owners with their PPP applications, of which nearly 70% of those loans were under $50,000,” said Steve Rabinovici, SBA Funding’s Chairman. “Helping entrepreneurs is the core of our business and we’re hearing from business owners every day about the positive impact PPP has on them and the communities they serve.”
The U.S. Small Business Administration announced that in the first seven days of the Program, it approved approximately $5 billion in PPP loan applications. The Program, replenished with an additional $284 billion will remain open for applications until March 31, 2021 or until funds are exhausted.