$291 Billion plus for the 2nd round PPP has been released for 2021. The good news, PPP has been extended to June 30, 2021; therefore, this article will present detailed information for those businesses who have not applied and/or those who have applied and are still waiting on PPP funding. The information will provide certainty your business is with the correct PPP lender. By chance, you did not choose the right PPP lender or have not applied here is to how to make quick changes to maximize your opportunity.
There are thousands of Lenders and 3rd party platforms accepting PPP applications nationwide. However, each Lender is different based on their own authorized approval limit for PPP lending. These limitations affect the consumer and/or business owner in a big way. The PPP approval authority is a limitation; each lending entity can lend SBA funds. Not all have the same approval amount. This means each lender has a maximum dollar amount per application a borrower can borrow. This main factor grossly places the consumer at a disadvantage.