» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 44 | NO. 17 | Friday, April 24, 2020

Small business loan program restarts, runs into snags

Print | Front Page | Email this story

NEW YORK (AP) — The second round of loan applications for the government's small business relief program has been slowed by computer issues at the Small Business Administration.

Lenders are complaining that they can't get their applications into the SBA system that processes and approves loans. The agency says it notified lenders Sunday that it was limiting the number of applications any lender could submit at once.

The head of the Consumer Bankers Association says the SBA's change was too last-minute — bankers had already sent large batches of applications to the agency, not knowing that a new procedure was being planned.

The first round of loan applications was also slowed by computer issues at the SBA. The agency began accepting applications for $310 billion in loans Monday morning.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0