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Senators ask SBA to continue accepting PPP applications

A group of Republican senators is urging the Small Business Administration to continue accepting Paycheck Protection Program applications.

In a letter to the SBA, the senators are requesting that lenders be permitted to submit applications for the program despite its funding lapse. Senators say this would alleviate the already developing backlog that will be problematic when additional funding is approved.

The senators include Todd Young of Indiana and Joni Ernst of Iowa.

Congress could vote on replenishing the program with $250 billion this week.