As applications reopen for a second round of emergency funds for small businesses, there are growing calls for more transparency in how the Small Business Administration distributes the loans.
New analysis shows there could be some political favoritism at play in which businesses are getting money from the Paycheck Protection Program.
Statement from the U.S. Small Business Administration:
The minimum bulk submission per lender is 15,000 SBA-ready PPP loans.
The 10% cap ($60 billion) is the sum of total funding authority (from both tranches) granted by Congress, exclusive of the additional $60 billion preserved for lenders with assets under $50 billion.
New lenders are still welcome to participate in PPP Round 2 even if they did not participate in PPP Round 1.
This article was originally published on WBUR.org.
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