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PPP Lending Operations Update
Due to the unprecedented demand for Paycheck Protection Program loans by the nation’s small businesses and to ensure equitable access and system integrity, SBA and Treasury are taking prudent and reasonable steps to protect SBA’s loan systems for the next phase of PPP loan processing.
SBA and Treasury are implementing the following measures:
SBA and Treasury value all lenders and their small business customers and will continue to provide updates to the PPP lending community as loan processing resumes this week.
ASSISTANCE FOR AMERICAN WORKERS AND FAMILIES
In the weeks immediately after the passage of the CARES Act, Americans will see fast and direct relief in the form of Economic Impact Payments. For more information, CLICK HERE.
ASSISTANCE FOR SMALL BUSINESSES
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
PRESERVING JOBS FOR AMERICAN INDUSTRY
The CARES Act assists eligible businesses looking for payroll support to keep Americans working. For more information, CLICK HERE.
PROCEDURES AND APPLICATIONS FOR TREASURY PROGRAMS
Guidelines and Application Procedures for Payroll Support to Air Carriers and Contractors under Division A, Title IV, Subtitle B of the CARES Act
Procedures and Minimum Requirements for Loans to Air Carriers and Eligible Businesses and National Security Businesses under Division A, Title IV, Subtitle A of the CARES Act
If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal financial information, or an advance fee, or charge of any kind, including the purchase of gift cards, please do not respond. These are scams. Please contact the FBI at www.ic3.gov so that the scammers can be tracked and stopped.
Fraud involving payment of Federal taxes should be reported to the Treasury Inspector General for Tax Administration.
RECENT REMARKS, TESTIMONY, AND STATEMENT
SBA - Coronavirus Loan Guidance and Resources
Media Kit & Resources