Newtek Business Services Corp.
Dear Loan Applicant:

We appreciate your patience and are incredibly sympathetic about your wait for a Payment Protection Program (PPP) loan. As you may already be aware, the current round of PPP funding has been depleted and a second round of funding for $250B could be available imminently. As a result, we want to ensure your file is complete so we can go to the SBA for an etran number as soon as it’s available.

The needs of 30 million small businesses across the U.S. have not begun to be satisfied by this initial round. We know many of you find this disappointing, as do we, but we find ourselves in the company of the thousands of lenders that are trying to process the requests of tens of millions of small businesses.  While we believe this additional funding may be possible, there is no guarantee and it will likely also deplete quickly.

What’s next?
Your information is on file and we strongly encourage you to finish the application and portal.  If/when a second round opens up with the SBA, you’ll have an early position in line to get an etran number.

Newtek Business Services Corp.

Please see press release issued Monday: Ihttps://www.newtekone.com/sbaseconomic-injury-disaster-loans/