SBA News Release ▶️ Resumption of Paycheck Protection Program

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Lower Rio Grande Valley District
Corpus Christi Branch Office

u s small business administration

News Release

PPP


Joint Statement by SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin on the Resumption of the Paycheck Protection Program

Release Date: April 24, 2020
Release Number: 20-34
Contact: Press_Office@sba.gov | (202) 205-7036

WASHINGTON- Administrator of the U.S. Small Business Administration Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today on the resumption of the Payroll Protection Program (PPP):

“We are pleased that President Trump has signed into law the Paycheck Protection Program and Health Care Enhancement Act, which provides critical additional funding for American workers and small businesses affected by the coronavirus pandemic.  We want to thank Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working with us on a bipartisan basis to ensure that the Paycheck Protection Program is funded so that small businesses can keep hardworking Americans on the payroll.

“The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EDT from approved lenders on behalf of any eligible borrower.  This will ensure that SBA has properly coded the system to account for changes made by the legislation.

“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.

“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 Paycheck Protection Program, visit: sba.gov/paycheckprotection.


Paycheck Protection Program Resources

PPP Interim Final Rule

Promissory Notes, Authorizations, Affiliation, and Eligibility Date April 24, 2020

PPP Lender List by State

Dated April 23, 2020

PPP Frequently Asked Questions

Dated April 23, 2020

PPP Report

Dated April 16, 2020


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Paycheck Protection Program Borrower Application Form

Download the Application