SBA Releases Notice on SAM.gov Registration for PPP Lenders
February 16, 2021
The Small Business Administration on Friday released a notice addressing SAM.gov 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 SAM.gov 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 SAM.gov 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.