The Small Business Administration is trying to take a more deliberate and targeted approach to distributing another $284 billion in subsidized Paycheck Protection Program small business loans compared to past iterations of the program, officials said in a call with reporters Friday.
The SBA is also responding to criticism that larger, well-banked borrowers had a leg up against their less-established peers when the first loans rolled out in April.
The new rules are intended to “ensure this round of funding goes to those who need it most,” a senior administration official said in a call with reporters Friday.
