What if my bank isn’t an approved SBA lender? Where can I get my PPP loan? (2021 update)

In this 2-minute read:

  • How do I find out if my bank is an approved SBA lender?
  • What if my bank isn’t an approved lender?
  • What if my bank is an approved SBA lender but isn’t participating in the Paycheck Protection Program?
  • What other lenders can I use?

IMPORTANT UPDATE FOR 2021: Congress has approved an extension of the PPP loan program until March 31, 2021, including “second draw” PPP loans for businesses that received PPP funding in 2020. Please click for more details about PPP loans.

Under the $2 Trillion CARES Act, business owners, sole proprietors, and independent contractors are given the opportunity to apply for loans through the Paycheck Protection Program (PPP) in order to help them through the economic impacts of the COVID-19 pandemic. 

Get your PPP loan or second draw PPP loan through Womply! Womply has helped over 200,000 businesses get their PPP funding. It’s free to apply for a PPP loan, and Womply can help connect you with an SBA lender that’s right for you! Start your PPP application.

Most people are likely to go to a trusted source to apply for their PPP loans, like a personal or business bank. But not all banks are approved by the SBA to hand out these loans. (Although it’s a federal program, all loans are accepted through private lenders who have been approved to accept SBA loan or grant applications.)

Not to worry, there are still plenty of ways for every needy business to find an approved lender. 

What if my bank isn’t an approved SBA lender or isn’t accepting PPP loan applications?

Eligible lenders for PPP loans include a list of institutions that are approved by the SBA. Prior to COVID-19, many private banks and federal credit unions were already a part of the SBA’s approved lender programs. 

Due to the PPP loan programs and the financial crush of the pandemic on businesses, there is a great need for more banks and private lenders to enlist in the program to help as many businesses get their loans in a timely manner. 

Your bank might be one of those lenders that has been approved by the SBA to accept applications. If your bank isn’t a certified lender for the SBA, or if your SBA-approved bank has elected not to accept applications for PPP, EIDL, or other SBA emergency loans, you can still choose to go to another lender to apply for your loan. 

There are also approved loan facilitators or agents for these SBA programs that can help pair you up with the right lender. 

What other lenders can I use for SBA / PPP loans?

The bottom line is if you want to apply for any SBA funding, you’ll need to find a lender that is approved by the SBA to accept and process SBA/PPP loans. You can look up approved lenders near you at SBA.gov

Generally speaking, the following types of organizations, institutions, and individuals can become approved lenders for the SBA:

  • Personal banks
  • Federally insured entities like credit unions and Farm Credit Systems
  • Private lenders

Here are some more helpful articles to help you through your PPP loan application process:

Let Womply help you apply for your PPP loans!

As you know, it’s free to apply for a PPP loan, and we know you have lots of choices. So why should you let Womply connect you with an approved SBA lender? Because we know what we’re doing and people love the help we provide. We’ve helped over 200,000 businesses, contractors, sole proprietors, and self-employed individuals get approved. Don’t wait! The deadline is March 31, 2021.

Start your PPP application now!

Learn more, plus get free reputation monitoring and customer insights when you sign up for Womply Free!


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