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SBA Announces Schedule for Opening Portal for First and Second Draw PPP Applications

2021-01-13
Most HARDI members interested in first or second draw Paycheck Protection Program (PPP) loans will be forced to wait several days before their lender can submit applications to the Small Business Administration (SBA). As part of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, Congress required SBA to prioritize applications from underserved communities that were unable or had difficulty applying for loans in 2020 before opening up the funds to larger lenders.
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