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Amazon To The Rescue For PPP?

SBA Application Portal Becoming Cloud Based

Keith Griffin

April 9, 2020

US Small Business Administration paycheck protection program

Amazon may be helping the U.S. Small Business Administration overcome its outdated equipment to help speed up disbursement of $349 billion for the Payroll Protection Program (PPP).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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