SBA Application Portal Becoming Cloud Based
April 9, 2020
Amazon may be helping the U.S. Small Business Administration overcome its outdated equipment to help speed up disbursement of $349 billion for the Payroll Protection Program (PPP). The SBA has been widely criticized for the launch of the program.
Banking Exchange says the deal with Amazon Web Services – the internet giant’s cloud computing business – means the launch of a new online portal for PPP loans at connect.sba.gov. The SBA has also introduced a hotline for those experiencing problems with E-Tran.
There had been some hope additional funds could be added to the PPP fund. Those appear to be delayed at best when Senate Democrats took action to stop a vote on $250 billion more going to the SBA.
In additional news, Banking Exchange reported a poll conducted by Alignable, a network for small businesses, shows the negative effects of the pandemic are impairing the livelihoods of 90% of small business owners across the US and Canada. More than one-third of business owners said they had only a couple of weeks of cash to sustain them, Alignable reported.
Read more about the SBA and small biz issues.
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