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When the U.S. government first rolled out forgivable loans to small businesses in early April under the Paycheck Protection Program, loan officers at Bank of the West in Grapevine, Texas worked nights and weekends to process a tsunami of applications. On May 15 the bank stopped taking applications for PPP loans. All told, the SBA says it had approved $512.2 billion in PPP loans as of May 21.
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