60,000 Paycheck Protection Program Loans Approved in First Week

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Montana District Office  - Month 2020

u s small business administration

60,000 Paycheck Protection Program

Loans Approved in First Week

PPP Coronavirus Loans Icon

Good day, Montana-

The PPP program has launched (and our phones/email have been pretty active here at the district office…) and there have been a few updates on PPP, Shuttered Venue Operators, Debt Relief and proposed rules which I wanted to provide everyone as follows (reminder:  updates on PPP can be found at the SBA website at www.sba.gov/ppp :

  • PPP First Week Data
    • 60,000 Paycheck Protection Program Loans Approved in First Week (Released 1/19/2021)
      • WASHINGTON –Today, the U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the program’s re-opening on Monday, Jan. 11, at 9 a.m. ET through to Sunday, Jan. 17.   We do not have Montana specific numbers available at this time.
  • Lender Notices issued for Section 1112 Debt Relief Program
    • The SBA has issued guidance to lenders on the Implementation of the Extension of the Section 1112 Debt Relief Program for the 7(a) and 504 Loan Programs, as Authorized by Section 325 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. 
  • Shuttered Venue Operators Grant (see attached email)
    • The webinar on the shuttered venues grant exceeded capacity so the attached email contains a link to the recorded version.  Also, information on the grant has been updated on the SBA website at:  Shuttered Venue Operators Grant (sba.gov)
  • SBA Proposes Rule to Eliminate Regulations that Exclude Faith-Based Organizations from Seven SBA Programs (see attached release) - Public Comments Due by February 18, 2021
    • WASHINGTON – The U.S. Small Business Administration invites public comment on a proposed rule designed to remove regulatory provisions that exclude certain faith-based organizations from seven business loan and disaster assistance programs.  These programs include the Intermediary Lending Program (ILP), Business Loan programs (7(a), Microloan and 504 programs), Economic Injury Disaster Loan (EIDL) program, Military Reservist Economic Injury Disaster Loan (MREIDL) program and Immediate Disaster Assistance Program (IDAP).  

For more information and updates, visit SBA.gov/PPP

I hope you find the information/updates on programs helpful.  I’d imagine there will be more to come soon and we will push out any updates as soon as we have them.  Of course, if you have questions please reach out to us and we’ll do our best to help and as update come available they are also posted at the www.sba.gov website. 

 

PPP information can be found at www.sba.gov/ppp. 

 

Have an great day! 

Take care, 

-Brent.

 

Brent E. Donnelly

District Director – Montana

U.S. Small Business Administration

10 West 15th Street - 1100

Helena, MT  59626

Desk: 406-441-1083

Mobile: 406-439-7613

www.sba.gov

 

 

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