A replenishment in the heavily criticized Paycheck Protection Program resulted in a firehose of small business lending from JPMorgan Chase, the financial institution said
San Francisco Friday.
JPMorgan, the largest US bank by assets and a target of recent PPP-related complaints, received approval for 211,000 loans totaling about $15 billion under the second wave of the US Small Business Administration's coronavirus-relief program. That brings the total number of loans from JPMorgan under the PPP to 239,000, worth $29 billion, since the program's launch in early April.
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