PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET 

LENDERS

Who is eligible to lend? All existing SBA-certified lenders will be given delegated authority 

to speedily process PPP loans.

All federally insured depository institutions, federally insured credit unions, and Farm Credit 

System institutions are eligible to participate in this program.

• New lenders that are federally insured depository institutions, federally insured credit 

unions, or Farm Credit System institutions will need to submit their application to 

DelegatedAuthority@sba.gov to apply.

Non-bank and non-insured depository institution lenders can also begin making loans as 

soon as they are approved and enrolled in the program.

• New lenders that are non-bank or non-insured depository institution lenders will 

need to submit their application to NFRLApplicationForPPP@sba.gov to apply.

Are these loans guaranteed by the SBA? Yes, the SBA guarantees 100% of the 

outstanding balance, and that guarantee is backed by the full faith and credit of the United 

States.

Are there guarantee fees? The SBA waives all SBA guaranty fees, including the upfront 

and annual servicing fees.

What underwriting is required? As explained in the PPP Interim Final Rule, you will need 

to confirm receipt of borrower certifications; confirm receipt of information demonstrating 

that a borrower had employees for whom the borrower paid salaries and payroll taxes on or 

around February 15, 2020; confirm the dollar amount of average monthly payroll costs; and 

follow applicable Bank Secrecy Act requirements. Lenders are permitted to rely on borrower 

certifications and representations as explained in the PPP Interim Final Rule and FAQ

guidance.

How will lenders be compensated? Processing fees will be based on the balance of the 

financing outstanding at the time of final disbursement. SBA will pay lenders fees for 

processing PPP loans in the following amounts:

• Five (5) percent for loans of not more than $350,000;

• Three (3) percent for loans of more than $350,000 and less than $2,000,000; and

• One (1) percent for loans of at least $2,000,000. 

Lenders may not collect any fees from the applicant.

Who can be an agent? An agent is an authorized representative and can be:

• An attorney;

• An accountant;

• A consultant;

• Someone who prepares an applicant’s application for financial assistance and is 

employed and compensated by the applicant;

• Someone who assists a lender with originating, disbursing, servicing, liquidating, or 
litigating SBA loans;

• A loan broker; or

• Any other individual or entity representing an applicant by conducting business with the 

SBA.

How will agents be compensated? Agent fees will be paid out of lender fees. The lender will 

pay the agent. Agents may not collect any fees from the applicant. The total amount that an 

agent may collect from the lender for assistance in preparing an application for a PPP loan 

(including referral to the lender) may not exceed:

• One (1) percent for loans of not more than $350,000;

• 0.50 percent for loans of more than $350,000 and less than $2 million; and

• 0.25 percent for loans of at least $2 million.

Can these loans be sold in the secondary market? PPP loans can be sold in the 

secondary market. The SBA will not collect any fee for any guarantee sold into the 

secondary market.

Please refer to the PPP Interim Final Rule and FAQ guidance for the most comprehensive and 

up-to-date guidance on this program.