Hoeven: Treasury, SBA Announce Paycheck Protection Program to Resume Monday, April 27

Congress Approved Additional $310 Billion for PPP to Support Small Businesses

BISMARCK, N.D. – Senator John Hoeven today issued the following statement after the U.S Treasury Department and the U.S. Small Business Administration (SBA) announced that the SBA will resume accepting Paycheck Protection Program (PPP) applications on Monday, April 27 at 9:30CDT/10:30 EDT.

Congress approved an additional $310 billion in funding for the program, which was created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help small businesses and self-employed individuals to maintain payroll through forgivable, federally-guaranteed loans. The President signed the supplemental funding legislation into law today. 

“We appreciate SBA and Treasury moving quickly to resume the Paycheck Protection Program, which provides important support for small businesses during this health emergency,” said Hoeven. “We encourage interested small business owners to work with their local lender to apply for the program, which will resume taking applications on Monday morning.”  

Click here for the statement from Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza.