 Lake City Bank announced today that the bank has received approval on 1,677 client loans totaling 530 million under the Small Business Administrations Paycheck Protection Program. The Paycheck Protection Program PPP authorized up to 349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. The Small Business Administration SBA began accepting applications under the program on Friday, April 3, 2020, and Lake City Bank filed its first application on behalf of a client that morning. 