BRAC’s April 6 COVID-19 Brief: The Latest on the Paycheck Protection Program

Last week the Paycheck Protection Program (PPP), officially began accepting applications from small businesses and sole proprietorships. The roll-out from the feds was rocky, with last-minute adjustments to guidance that left local lenders working around the clock to prepare. The good news is that the local banking community is entering this week with more clarity and is processing applications. We urge businesses to apply for the program as quickly as possible, as the program cap is set at $349 billion.

  • The final application for borrowers may be found here.
  • A non-exhaustive list of SBA-approved lenders in the Capital Region may be found here. The SBA also has an eligible lender portal searchable by zip code.
  • BRAC’s Five Actions to Take Now blog post may be found here.
  • Program overview information may be found here.

BRAC is hosting a free webinar on Thursday at 1:30 p.m. for a deeper dive on the PPP and the CARES Act, sponsored by ECS. Representatives from Adams & Reese will discuss the programs and answer questions. Reserve your spot now.

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