Dealing with Delays from the SBA
If you’re having trouble accessing applications, funds, and other resources from the SBA (Small Business Administration), you are not alone. The New York Times recently published an article detailing the reasons for delays many businesses are facing in trying to access loans the SBA is backing. They include, but are not limited to:
- Small number of SBA staff dealing with a large number of applications (for both borrowers and lenders)
- “Aging technology” makes it hard to keep up with the demands
- Banks may have additional forms
- Online connectivity issues between lenders and the SBA (difficulty accessing applications)
For more on this issue, please read the article here
All the information in this email was found here: https://www.nytimes.com/2020/04/07/business/coronavirus-ppp-small-business-aid.html
Please do not hesitate to contact us with any questions or concerns. Information is being updated regularly.
