Joint Trade Association Letter to SBA on PPP Processing Issues

April 28, 2020

The Honorable Jovita Carranza


U.S. Small Business Administration

409 3rd Street, S.W. Washington, D.C. 20460

Dear Administrator Carranza:

As trade associations representing banks and credit union members across the country actively participating in the Small Business Administration’s Paycheck Protection Program (PPP), we are reaching out to share our continuing concerns regarding the loan submission process and ongoing E-Tran access issues.

Our member institutions know millions of small businesses are depending on the PPP to weather the economic effects of this pandemic, and banks and credit unions are working around the clock to get them this much-needed assistance. Despite the program’s challenging start and uneven issuance of guidelines, banks and credit unions have adjusted and helped over 1.7 million businesses get loans. Like you, financial institutions and small businesses want nothing more than for this program to succeed.

Unfortunately, with the start of the second round of funding many lenders are having significant problems submitting loan applications into the SBA’s system, preventing them from delivering this critical financial assistance to small businesses that desperately need it. Quite simply, it is taking too long to submit loans and get these funds where they need to go.

We respectfully request that you help us resolve these access issues. Additionally, we encourage transparency to help us explain to our members what is causing the problem and how it will be resolved. If the pace and performance of the E-Tran system cannot be improved, then we ask that you share that information with the public to help manage expectations for all of the small businesses still counting on PPP for a lifeline. We understand resources are limited and SBA and Treasury are fielding many questions from a great number of lenders, potential borrowers, and others. However we have found the lack of transparency and timely guidance on the PPP process impedes the funding of loans to small businesses in need. The SBA should continue to collaborate with the Treasury to provide timely and consistent guidance to financial institutions as they work to provide their communities with this critical assistance.

The sooner this program functions properly, the sooner more small businesses are able to receive the assistance they critically need. We look forward to working with you to make that happen.


American Bankers Association

Bank Policy Institute

Community Development Bankers Association

Consumer Bankers Association

Credit Union National Association

Financial Services Forum

Mid-Size Bank Coalition of America

National Association of Federally-Insured Credit Unions

National Bankers Association

cc: The Honorable Steven T. Mnuchin, Secretary, U.S. Department of the Treasury