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SBA Releases Notice on Registration for PPP Lenders

February 16, 2021

The Small Business Administration on Friday released a notice addressing registration for Paycheck Protection Program lenders. As recipients of federal loan guarantees, all 7(a) lenders—including those participating in the 2021 round of the PPP—must register on and keep their registration active. Most banks have had no problems with this process, according to feedback received by ABA. The notice also includes guidance for submitting a lender’s unique CAGE identifier to SBA.

Due to the exigent circumstances small businesses are facing, SBA said that PPP lenders will have 30 days from the date of their first PPP loan disbursement in the second round to complete SAM registration. The notice stated Dec. 27, 2021, which appears to be a typo in a date that should read 2020. ABA staff will communicate with SBA to confirm. Read the notice.

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