COVID-19 Daily News

SBA Begins Accepting Loan Applications for Second Round of PPP

WASHINGTON, D.C. — The U.S. Small Business Administration (SBA) resumed accepting Paycheck Protection Program (PPP) loan applications on April 27 from approved lenders on behalf of any eligible borrower, following an infusion of $310 billion into the program last week.

“The PPP has supported more than 1.66 million small businesses and protected over 30 million jobs for hardworking Americans. With the additional funds appropriated by Congress, tens of millions of additional workers will benefit from this critical relief,” SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven Mnuchin said in a statement. “We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously. All eligible borrowers who need these funds should work with an approved lender to apply. Borrowers should carefully review PPP regulations and guidance and the certifications required to obtain a loan.”

For more information on the PPP, visit sba.gov/paycheckprotection.

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