English

SBA to resume processing the Paycheck Protection Program (PPP)

MORE THAN 180 APPROVED LENDERS IN COLORADO

Newsroom El Comercio de Colorado

Haga click aquí para leer la versión en español

The Small Business Administration (SBA) will resume accepting Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program loan applications on Monday, April 27 at 10:30AM EDT from approved lenders on behalf of any eligible borrower. In Colorado, more than 180 financial institutions are authorized to process these loans, which include banks, credit unions, and micro financial institutions.

“We are pleased that President Trump has signed into law the PPP and EIDL, which provides critical additional funding for American workers and small businesses affected by the coronavirus pandemic,” said Jovita Carranza SBA Administrator. She continues, “It was a bipartisan effort to ensure that the PPP is funded so that small businesses can keep hardworking Americans on the payroll.”

Previously submitted applications

“We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously. All eligible borrowers who need these funds should work with an approved lender to apply. Borrowers should carefully review PPP regulations and guidance and the certifications required to obtain a loan,” said Carranza. In Colorado, 41,635 PPP loans were approved for nearly 7.4 billion dollars.

For more information on the Paycheck Protection Program, visit: