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.”

Fixed-Rate DCPC Pools

Fixed-Rate SBIC Debentures

Floating-Rate 7(a) Pools

Dan Stimpson, CPA

Senior Vice President, Investment Strategies

Vining Sparks IBG, LP

The information included herein has been obtained from sources deemed reliable, but it is not in any way guaranteed, and it, together with any opinions expressed, is subject to change at any time. Any and all details offered in this publication are preliminary and are therefore subject to change at any time. This has been prepared for general information purposes only and does not consider the specific investment objectives, financial situation and particular needs of any individual or institution. This information is, by its very nature, incomplete and specifically lacks information critical to making final investment decisions. Investors should seek financial advice as to the appropriateness of investing in any securities or investment strategies mentioned or recommended. The accuracy of the financial projections is dependent on the occurrence of future events which cannot be assured; therefore, the actual results achieved during the projection period may vary from the projections. The firm may have positions, long or short, in any or all securities mentioned. Member FINRA/SIPC.
Copyright © 2021
This is a publication of Vining-Sparks IBG, L.P.
775 Ridge Lake Blvd., Memphis, TN 38120