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The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.
April 16 -
The $349 billion stimulus package from the Small Business Administration provides loans to cover payroll, rent and utilities for up to eight weeks.
April 14 -
Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.
April 13 -
The program comes as welcome relief for many advisors and their business-owning clients — but the program has struggled since going live on Friday.
April 7 -
No online lenders are approved for the agency's traditional programs, but they could make loans under the COVID-19 stimulus package if they get special approval.
March 26