The u.s. Small Business Administration of the united States recalled that the last two weeks of the Program of Protection of Payroll (PPP) are at the end.
The regional administrator of the federal agency, Steve Bulger indicated in a written communication that the purpose of the program is to ensure that the cash injection reaches all areas of the economy, including borrowers neglected, as people with social and economic disadvantage, veterans, military and their spouses, women and rural communities.
Also, it was said that SBA administrator Jovita Carranza, addressed recently to the network of financial institutions, the SBA, asking them to redouble their efforts to help businesses in underserved and disadvantaged business, as well as to the non-profit organizations with funding from the DPI, which allows our federal agency to expand the economic opportunities before the deadline date of 30 June 2020.
“We have seen success in these areas thanks to the $ 10 billion of funds from the second round provided exclusively by the community development financial institutions, CDFI,” added Bulger.
“We recognize that the institutions approved by the SBA to the PPP as the CDFI, the financial institutions in the minority, the development companies certified and the lenders of the system of agricultural credit are leading the effort to serve individual entrepreneurs and small businesses in underserved communities,” he said.
At the time, the SBA has already provided services to more than 4.5 million small businesses and non-profit organizations through the PPP, injecting more than $ 500 billion into our economy. The surprising low in the unemployment of the last week is a direct result of the PPP that keeps americans on the payroll, and the increase in sales may un17.7% is the biggest monthly increase in history.
Finally, he stated that with more than $100,000 million still available, now is the time for the owners of small businesses with little representation work with your financial institution of choice, or find an in https://www.sba.gov/paycheckprotection/find to apply for your own loan PPI to help their business and their employees survive and thrive.