The Small Business Administration's E-Tran system has been plagued with issues in both rounds of funding.
Under pressure to deliver relief to hundreds of thousands of small businesses, banks of all sizes are complaining that the federal government’s loan-entry portal is behind delays in the program.
Secretary of the Treasury Steven Mnuchin speaks with President Donald J. Trump and members of the coronavirus task force during a briefing in response to the COVID-19 coronavirus pandemic on Thursday, April 02, 2020 in Washington, DC. Under pressure to deliver relief to hundreds of thousands of small businesses, banks of all sizes are complaining that the federal government's loan-entry portal is behind delays in the program.
They added that "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." A spokesman for the SBA said in an email to CNBC that "the PPP program is working" and that the agency "is providing real-time data updates, proactively identifying and resolving issues."
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