April 24, 2020
By Caity Witucki
BREAKING NEWS — PPP to Resume Monday at 10:30AM EDT
SBA Administrator, Jovita Carranza, and U.S. Treasury Secretary, Steven T. Mnuchin, announced today that the SBA will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EDT.
“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,” says Carranza and Mnuchin in the joint statement. “We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously.”
Read the full statement here: https://home.treasury.gov/news/press-releases/sm988
Shortly after the announcement the SBA Office of Capital Access issued an Interim Final Rule on PPP clarifying promissory note, authorization, affiliation, and eligibility rules. You may review the Interim Final Rule here: https://www.sba.gov/sites/default/files/2020-04/Interim-Final-Rule-04%2024%2020.pdf