SBA FUNDING ROUND 2
On April 24th, President Trump signed into law additional funding to support American small businesses and non-profits impacted by COVID-19.
As a result, SBA will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EDT from approved lenders on behalf of any eligible borrower.
The PPP has supported more than 1.6 million small businesses and protected millions of hardworking Americans in all 50 states, the District of Columbia, and each territory. During its initial run, the SBA and Department of the Treasury were able to process more than 14 years’ worth of loans in less than 14 days.
With the additional funds appropriated by Congress, tens of millions of additional workers across the nation will benefit from this critical relief.
SBA encourages 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. Information is found online at www.sba.gov/paycheckprotection.
Our Agency is fully committed to ensuring that America’s workers and small businesses continue to get the resources they need to get through this challenging time.
The SBA OC/IE District Office will continue holding daily SBA Live Zoom calls this week at 2 p.m. PT- keep an eye out for a separate message with registration link.
Economic Injury Disaster Loan
With the additional funding provided by the new COVID-19 relief package, SBA will resume processing EIDL Loan and Advance applications that are already in the queue on a first come, first-served basis.
We will provide further information on the availability of the EIDL portal to receive new applications (including those from agricultural enterprises) as soon as possible.