SBA Update

May 4, 2020



$484 Billion Stimulus Package includes $310 Billion for Paycheck Protection Program (PPP) Loans

President Trump signed another relief bill into law on April 24th. The $484 billion relief package replenishes funds for small business PPP loans ($310B), includes SBA disaster loans ($60B), provides funding for hospitals ($75B) and COVID-19 testing ($25B).


The SBA resumed accepting PPP applications from participating lenders on Monday, April 27, 2020 at 10:30am EDT.  Through May 3rd, $175 billion in PPP loans had been approved in the second round of funding, totaling 2.2 million small business loans.  The average loan size of round two of PPP is $79,000.  Larry Kudlow, the White House’s top economic adviser, said the administration might consider getting additional money for the program for more loans.  “This has been an extremely popular and effective program, no question about it. You know, keeping folks on the payroll is so important.  We will be looking at that.”


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Dan Stimpson, CPA

Senior Vice President, Investment Strategies

Vining Sparks IBG, LP

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