April 22, 2020 

By Caity Witucki
Contributing Editor

President Trump Applauds Banks for Contributing to the Success of PPP

On Wednesday, April 22, 2020, President Trump thanked the SBA lending community for contributing to the  success of the first round of  Paycheck Protection Program (PPP) loans.

“In our first round of funding, we provided nearly $350 billion, and it went at record speed to American workers and small businesses. It’s really been an incredible incredible success,” says Trump. “I want to thank the banks the big banks, the little banks, the commercial banks of all kinds, and the community banks.”

Trump also showed his support for the next round of PPP funding. “Yesterday, the Senate answered my call to replenish the paycheck protection program so that millions of additional American workers can keep getting a paycheck… the legislation passed by the Senate yesterday  also reserves $30 billion in loans for small financial institutions that serve minority and distressed communities, which is very important.”

Presidential Coronavirus Task Force Briefing