Click here for a special message from Community Bankers Association of Georgia's President & CEO, John McNair

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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:

• Pacing the number of loans processed in the E-Tran system for participating lenders when processing resumes on Monday, April 27, 2020 at 10:30 am EDT;

 

• Instituting a maximum dollar amount at 10% of PPP funding authority that any lending institution will be able to originate, exclusive of the additional $60 billion preserved for lenders with assets under $50 billion (i.e. $60 billion cap);

• Implementing operational standards to ensure that lenders access PPP funds based on their asset size;

 

• Ensuring the Paycheck Protection Program continues to operate on a first-come, first-serve basis so that every small business has access to PPP loans to sustain their business and retain their employees; and

 

• Issuing guidance for lenders who have received a significant amount of loan applications.



• 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.

 
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.

• For a top-line overview of the program CLICK HERE
• If you’re a lender, more information can be found HERE
• If you’re a borrower, more information can be found HERE
• The application for borrowers can be found HERE

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

COVID-19 SCAMS
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

• Statement by Secretary Steven T. Mnuchin on the Passage of the CARES Act
• Statement by Secretary Steven T. Mnuchin on Essential Financial Services Workers
• Statement of G7 Finance Ministers and Central Bank Governors
• Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households, and Businesses
• Treasury and IRS Delay Federal Tax Day from April 15 to July 15 Due to COVID-19 Outbreak
• Treasury, IRS, and Labor Announce Plan to Implement Coronavirus-Related Paid Leave for Workers and Tax Credits for Small and Midsize Businesses to Swiftly Recover the Cost of Providing Coronavirus-Related Leave
• Statement from Secretary Steven T. Mnuchin on the Establishment of the Money Market Mutual Fund Liquidity Facility
• Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak
• Statement from Secretary Steven T. Mnuchin on the Establishment of a Primary Dealer Credit Facility
• Statement from Secretary Steven T. Mnuchin on the Establishment of a Commercial Paper Funding Facility to Support the Flow of Credit to Households and Businesses
• Secretary Mnuchin on the Sunday Shows
• Statement from Secretary Steven T. Mnuchin Regarding House-passed Coronavirus Response Legislation
• Readout from a Treasury Spokesperson on Under Secretary McIntosh’s call with G7 Counterparts
• Meeting of G7 Finance Ministers and Central Bank Governors to be Hosted by Videoconference

• Statement of Secretary Steven T. Mnuchin Before the U.S. House Appropriations Subcommittee on State, Foreign Operations, and Related Programs

• Readout of Call of President’s Working Group on Financial Markets

Helpful Links

SBA - Coronavirus Loan Guidance and Resources

• IFR on SBA loan review procedures and related borrower and lender responsibilities
• IFR on Loan Forgivness
• SBA Procedural Notice - May 21, 2020
• Paycheck Loan Forgiveness Application 
• Interim Final Rule - on Disbursements 
• 4/26 - SBA PPP Submission Guidance Memo 
• SBA Procedural Notice
• SBA Portal - PPP Access
• SBA Form 3506 CARES Act Section 1102 Lender Agreement 
• Paycheck Protection Program Lender Application Form
• Interim Final Rule - Small Business Administration: Business Loan Program Temporary Changes; Paycheck Protection Program 
• Paycheck Protection Program
• Economic Injury Disaster Loans and Loan Advance
• SBA Debt Relief
• SBA Express Bridge Loans
• Guidance for Businesses and Employers
• SBA Products and Resources
• Government Contracting
• SBA Affiliation Overview
• SBA Application to be a 7(a) Lender
• SBA Economic Injury Disaster Loans (EIDL)
• ​Pilot Program Guide
• Carranza Implements Automatic Deferment on Existing SBA Disaster Loans Through End of 2020 (March 23, 2020)
• SBA Georgia District Office
• FAQ's PPP
  
  

Additional Links

• ​Federal Reserve Board announces it is expanding the scope and eligibility for the Main Street Lending Program
• Federal Reserve Board announces rule change to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program
• PPP Grassroots Letter for Bankers
• WEBINAR - The CARES Act: Impact & Implications for Community Banks
• How the Treasury Department is Taking Action
• The Small Business Owner’s Guide to the CARES Act, prepared by the U.S. Senate Committee on Small Business and Entrepreneurship

• Small Business Guide and Checklist for Coronavirus Emergency Loans, prepared by the U.S. Chamber of Commerce. 
• Paycheck Protection Program Q&A for Bankers (March 28, 2020)
• Summary of SBA Payroll Protection Program — National Law Review (March 27, 2020)
• Coronavirus Emergency Loans Small Business Guide & Checklist - U.S. Chamber of Commerce
• Essential Worker Sample Letter
• ICBA FAQ's on PPP (April 8, 2020)
• PPP State Sign-On
• U.S. Treasury Department Office of Public Affairs - Additional Guidance Regarding the Paycheck Protection Program​​

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Media Kit & Resources

Graphics

• Facebook Banner​
• Twitter Banner​
• LinkedIn Banner​
• ​Square Ad

Hashtags

• #smallbusinessowner; #caresact; #sbaloan; #paycheckprotection; #loanforgiveness
  
  

Tweets

• Are you covered under the CARES Act?  Find out how we can help your small business.
• The U.S. Treasury is providing fast, direct relief to American workers and businesses.  Learn more and apply today! 

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