As of 5/31/2021 the SBA has disbursed $800 billion of the $813.5 billion so far appropriated by Congress to this program. As of Round Three, $6 billion, or 2 percent of Round Three PPP funding, remain available to the program.
Beside this, are PPP funds exhausted?
On May 4, 2021, the U.S. Small Business Administration (SBA) announced it has officially exhausted Paycheck Protection Program (PPP) funds for most lenders. … There is $8 billion in remaining funds available for new PPP applications through CFIs as part of a congressionally-mandated set aside.
Also to know is, how long does it take to get PPP funds? This can take a few days depending on demand. If you have all your documentation in place, your approval can take as little as a day or two, depending on your lender. Once your loan is approved, estimates are that it should take approximately 5-7 business days for your funds to become available.
Similarly one may ask, how much funds are left in the PPP program?
PPP Money – Nearly All Gone: Only $8 billion remains available. Source: CBS News, April 6, 2021.
What is the deadline for PPP loan forgiveness 2021?
August 30, 2021
What lenders are accepting PPP applications?
Lenders accepting PPP forgiveness applications
- BlueVine.
- Capital One.
- Chase.
- Citi Bank.
- Cross River Bank.
- Fountainhead.
- Funding Circle.
- IncredibleBank.
Which lenders are still accepting PPP applications?
- America First Credit Union. America First Credit Union is currently accepting applications on its website. …
- Ameris Bank. Ameris Bank is accepting applications from borrowers who received their first PPP loan through the bank. …
- AmPac Business Capital. …
- AltCap. …
- Atlantic Capital Bank. …
- Bankers Trust. …
- Bank of America. …
- Bank of Hope.