Administrator advises businesses: ‘Hang in there’

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Administrator advises businesses: ‘Hang in there’

Fri, 04/24/2020 - 03:32
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Our will, along with the millions of small businesses we serve, is being tested by the devastating impact of the coronavirus, COVID-19. I want to assure you, we are working every day to make sure help is on the way. As of today, nearly 500,000 loans valued at more than $130 billion from over 4,000 lenders have been approved for small businesses nationwide. By joining forces with the private lending community, the SBA’s Paycheck Protection Program, or PPP, is providing small businesses with much-needed capital, which gives them the stability they need to retain their employees and continue serving our communities. The PPP program is one of the largest economic recovery efforts in our nation’s history. The SBA built the loan platforms needed for it in just seven short days. We wanted to get needed funds to start flowing to our small businesses as soon as possible. While imperfect and still being improved, putting together the new platforms called for by Congress is a true testament to…

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