Last night, the SBA PPP portal was closed to the financial institutions. No more applications were able to be submitted today.
The question is what will happen to the applications submitted but not yet approved.
Note that there are around $8 billions on the side for minority groups and around $6B for applications with error codes.
NYTimes article – https://www.nytimes.com/2021/05/04/business/paycheck-protection-program-closes.html
