Paycheck Protection Program Resumes

Bashar Makhay
April 27, 2020

The recently passed extension of the Paycheck Protection Program and Health Care Enhancement Act provides critical additional funding for American workers and small businesses affected by the coronavirus pandemic. Today, the Small Business Administration resumed accepting PPP loan applications from approved lenders on behalf of any eligible borrower. 

In a join statement, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin shared that "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."
To learn more about the Paycheck Protection Program, small businesses in Upper Manhattan are encouraged to contact the Columbia-Harlem SBDC for guidance during the pandemic.