Complaints from various industry groups about the roll-out of the second round of the Paycheck Protection Program may be finally yielding favorable results, as the Small Business Administration (SBA) announced this week it was loosening the reins on participating lending institutions. On Wednesday, in the hope of speeding up the process, the SBA said it would allow lenders to directly certify the eligibility of small business borrowers for both first- and second-draw loans that had received validation errors during the forgiveness process. Most notably, the American Institute of CPAs (AICPA) along with the American Bankers Association (ABA) and other business groups have complained that a host of “systemic” issues associated with the agency’s loan portal for PPP was jeopardizing the success of the program. This change comes in the wake of the SBA also releasing a report last week on participation in the PPP loan program through February 7, 2021. The report identified 1,290,778 loans processed by 5,082 participating lenders in the 2nd phase of the PPP at a total cost of almost $101 billion in 2nd draws. In the aggregate, the PPP has processed over 6,438,000 loans at a cost to date of $623,400,743,502!