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Rep. Loudermilk’s Business Brief: PPP Business Relief Funding Replenished
Posted by on April 24, 2020 | comments
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Dear Small Business Owner,

Yesterday, I was in Washington, D.C. to vote in support of legislation to replenish the Small Business Administration’s popular Paycheck Protection Program (PPP) with $321 billion (see video below); and today, President Trump signed it into law.


On Monday, April 27, 2020, the Small Business Administration will resume accepting PPP loan applications. Please see the joint statement from Administrator of the U.S. Small Business Administration Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin below.

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I also wanted to bring to your attention an important document from the Republicans on the House Financial Services Committee regarding PPP. This informative document will help answer some of those questions about the program.

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While this program is far from perfect, numbers do matter; and, this program has undoubtedly helped save millions of businesses and jobs around the country. The state of Georgia alone has had more than 48,000 PPP forgivable loans approved, totaling more than $9 billion. Below is a graphic that summarizes PPP’s impact on the entire country to date.


If you are a small business owner in need of financial assistance, these are some helpful resources to help you apply for PPP:

Find Eligible Lenders Tool

SBA Guidance

SBA Lender Application Form

SBA Borrower Application Form

PPP was created under the CARES Act economic stimulus package passed by Congress in March, and replenished with the supplemental bill passed by Congress this week and signed by the President today. This program is designed to provide cash-flow to small businesses impacted by the COVID-19 health crisis.

I will continue to update businesses in Georgia’s 11th Congressional District on important federal business-related response efforts due to COVID-19 as they become available. Please do not hesitate to contact my office if you have any questions or concerns, and be sure to sign up for my regular weekly email newsletter through my website at www.loudermilk.house.gov.

Sincerely,

Barry Loudermilk
Member of Congress


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