SBA Paycheck Protection Program: Round Two
CPCA produced this webcast alongside Melissa Schoen and MaryKate Scott to share how community health centers can take advantage of the second round of funding for the Paycheck Protection Program (PPP).
On December 27, 2020, Former President Donald Trump signed the Consolidated Appropriations Act, 2021, which included a $284 billion allocation to the Small Business Association (SBA) for the continuation of the PPP. The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, re-opened the PPP for new borrowers and eligible existing PPP borrowers. Updated PPP guidance outlining program changes to enhance its effectiveness and accessibility was released on January 6, 2021 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
The U.S. Small Business Administration announced that it 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, January 11th, at 9 a.m. ET through to Sunday, January 17th. Act quickly to secure your PPP loan!