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Many Financial Institutions Missed Out on the SBA PPP Loans— and Lack of Technology Could Be to Blame

on Mon, Apr 27,2020 @ 11:25 AM | By Kristina Quinn | Small Business Lending digital banking SBA PPP
A few weeks ago, Congress authorized $349 billion in payroll protection for small businesses. Unfortunately, many financial institutions and their small business clients walked away empty-handed. One reason for this? An inadequate technological infrastructure. Simply put, a lot of banks and credit unions didn’t have the required SBA PPP loan processing software they needed to handle loan applications.
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