60,000 Paycheck Protection Program loans approved in first week

WASHINGTON – The U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the program’s reopening on Monday, Jan. 11, at 9 a.m. ET through to Sunday, Jan. 17. Last week, the PPP provided dedicated access to community financial institutions that specialize in serving underserved communities, including minority- women-, and veteran-owned small businesses from Monday through Thursday, joined Friday by smaller lenders.

As of today, Jan. 19, the Paycheck Protection Program is open to...