The Small Business Administration (SBA) has announced they have reached their limit on the $350 billion dollar loan to grant Paycheck Protection Program (PPP) and is no longer accepting applications.
The SBA reported this morning that more than 1,637,000 loan applications valued at “over $339 billion” had been approved. It is not expected to disclose who the recipients of the taxpayer funds will be.
BizFed's Executive Committee met yesterday to take a position on adding 501c6 organizations (trade associations and chambers of commerce) to the PPP program AND asked Congress to increase funding immediately.
Read BizFed's Letter Here
We encourage you to reach out to your representative immediately and ask they replenish the funds as quickly as possible and expand the types of non-profits eligible to receive funding. To find your senators contact information go
here and your representatives can be found
here.
We hope you find this information valuable, if you have any questions please contact sarah.wiltfong@bizfed.org
