PAYCHECK PROTECTION PORTAL UPDATE

Mark Campanale Coronavirus Alerts, Government Relations Updates

A recent report indicates the PPP portal doesn’t appear to allow lenders to upload a borrower’s application for a second-draw PPP if a forgiveness application for the first-draw loan is still pending.

However, the SBA’s interim final rule does not mention that first-draw forgiveness is a requirement for receiving a second-draw loan. Read more here.