Paycheck Protection Program hits its funding limit. Here’s what you should know.

The SBA has announced that it is unable to accept new applications for the paycheck Protection Program (PPP) because available appropriations have hit the $349 Billion limit. However, those who have applied and are working through your process/documentation requirements PLEASE stay focused on finishing and securing your loan.

The important question to ask your bank or SBA approved lender is to confirm that your application was entered into the SBA’s ETRAN system. If you are in the system, your application is already counted within the available appropriations and you simply need to finish the process including signing loan documents.

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