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The Small Business Administration (SBA) has stopped accepting new Paycheck Protection Program (PPP) applications from most lenders almost a full month before the $292 billion program’s application deadline.
The SBA informed lenders that the PPP general fund was out of money. The agency also has set aside $6 billion for PPP applications still in review status or needing more information due to error codes.
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— Compiled by Business Editor Joe Crews
