The Small Business Administration (SBA) has resumed accepting Paycheck Protection Program (PPP) applications from participating lenders as of 10:30am EDT today.
Last Friday, the President signed into law the latest COVID-19 response bill that replenished the PPP with an additional $310 billion as well as an additional $10 billion for SBA’s Economic Injury Disaster Loan (EIDL). The bill did not make any substantive changes to the PPP or EIDL program. Congressional leadership is characterizing the latest COVID-19 response bill as an interim funding effort, with the expectation that they will continue to negotiate a larger “phase 4” package in the coming weeks.
Click here for more information on the PPP.
Click here for more information on the EIDL.