SBA Paycheck Protection Program
The $350 Billion of initial funding for the SBA PPP program has been utilized.
- We have received a large amount of SBA PPP applications far exceeding our normal capacity.
- At this time, we did not get through all the applications prior to the fund depletion.
- Although we expect this program to receive new funding shortly once approved by the federal government, we do not know when that will occur.
- As of April 16th, we are no longer accepting any new applications.
- If you have submitted an application prior to April 16th, we will still be processing those applications over the coming days anticipating a refunding of the SBA PPP program. Once the program is re-funded we will be submitting these applications to the SBA for approval.