The Small Business Administration’s loan processing platform went down Monday for as long as four hours, temporarily halting the ability of lenders to process loans for small business owners seeking relief from the impact of the coronavirus.
Banking representatives and an administration official who spoke on condition of anonymity said that the E-Tran system that lenders use to process loans under a new relief program that launched on Friday was inaccessible for part of the day on Monday. The administration official said it was offline for as long as four hours.
