PPP Loan Update 4/3

As of 4/3/20, Bank of America is the only large bank set up to accept applications. They took in 60,000 applications on 4/3 requesting $6 billion. They will only accept applications from customers who had a business account with them on or before 2/15/20. (According to Yahoo News).

Wells Fargo’s web site has a PPP section but they are not accepting applications yet. The two other large banks, JP Morgan Chase and Citibank should follow soon.