PPP lender information

Information and resources for lenders participating in the Paycheck Protection Program (PPP).

Content

Program updates

SBA is working to streamline the PPP forgiveness application process. Beginning in March 2024, all borrowers applying for forgiveness can use SBA's Direct Forgiveness Portal (DFP). This will ensure a more accessible process for borrowers, no matter loan size. 

All lenders will be required to decision forgiveness applications received through the portal. Lenders who have an established internal process may continue to use it. However, they must also accept DFP applications. When a borrower submits an application their PPP lender will get a notice.

On February 22, 2021, President Biden announced the following changes to SBA's COVID-19 relief programs to ensure equity:

Specifically, from February 24 to March 9, 2021, SBA had a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees. This gave lenders and community partners more time to work with the smallest businesses to submit their applications, while also ensuring that larger PPP-eligible businesses would still have plenty of time to apply for and receive support before the program expired on March 31, 2021.

SBA also made four additional changes to open the PPP to more underserved small businesses than ever before. SBA is working with community partners to improve the emergency relief “digital front door” and conduct extensive stakeholder outreach. And, SBA is strengthening its relationships with lender partners to advance equity goals, deliver funding efficiently, and prevent fraud, waste, and abuse. With the PPP Interim Final Rule and FAQ issued at the end of July, 2021, SBA:

  • Allowed sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants
  • Eliminated an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal
  • Eliminated PPP access restrictions on small business owners who have struggled to make student loan payments by eliminating student loan debt delinquency as a disqualifier to participating in the PPP
  • Ensured access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP

A critical goal from Congress for the 2021 round of PPP was to reach small and low- and moderate-income (LMI) businesses who have not received the needed relief a forgivable PPP loan provides. Congress set a $15 billion set-aside for small and LMI First Draw borrowers. With existing policies, the current round has only deployed $2.4 billion to small LMI borrowers, in part because a disproportionate amount of funding in both wealthy and LMI areas is going to firms with more than 20 employees. The less-than-20 exclusivity period combined with the changes to expand access for sole proprietors, ITINs, returning citizens, and student loan debt will help us achieve congressional goals.

Interim final rules

SBA has issued the following Interim Final Rules related to PPP:

2024

2021

2020

Additional guidance for lenders

Frequently Asked Questions

Letters from the SBA Administrator

Lender notices

Borrower forms

Applications

Disclosures

Loan necessity questionnaires

For borrowers that, together with their affiliates, received PPP loans with an original principal amount of $2 million or greater:

Lender forms

SBA and Treasury will consider applications for participation as PPP lenders from community development financial institutions and minority-, women-, veteran-, and military-owned lenders based on factors including those described on SBA Form 3507. Such factors include cases in which the lender does not meet all of the requirements listed on that form.

Among other criteria, SBA and Treasury will give strong consideration to the types of financial services provided by the lender; the lender’s compliance programs, including those related to Bank Secrecy Act; and the number and dollar amount of small business loans originated and serviced by the lender in a 12-month period over the past 36 months.

SBA and Treasury will also consider board membership composition as a proxy for ownership and control when determining the minority-, women-, veteran-, and military-owned status of non-profit lenders.

Lender assistance

Lenders who need assistance accessing SBA's E-Tran system may call our Lender Customer Service Line at 833-572-0502.

Short URL: sba.gov/ppplenders
Last updated November 19, 2024