PPP Officially Out of Money

The Paycheck Protection Program (PPP) has officially run out of money as of late Wednesday evening with the entire appropriation of $349 billion having been allocated to small businesses across the country. The Small Business Administration (SBA), which was charged with the administration of the forgivable loan program as part of the massive $2.2 trillion…

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SBA 7(a) Loan Program Reaching Limit

One of the more popular loan programs administered by the US Small Business Administration is rapidly approaching its lending limit and will likely be suspended at the end of the month.  The 7(a) loan program is authorized to loan $18.75 billion this fiscal year, but some $16.6 billion had already been guaranteed by July 11. …

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