SBA Utah Press Release
The U.S. Small Business Administration Payroll Protection Program resumed Monday morning after President Trump signed the PPP and Health Care Enhancement Act into law Friday. The program provides critical additional funding for American workers and small businesses affected by the coronavirus pandemic.
“Utah businesses are now able to apply again for funding available through the SBA’s Paycheck Protection Program. According to a recent New York Times article, our state’s SBA EIDL and PPP loan numbers have been punching above our weight class” said Marla Trollan, SBA Utah District Director. “We expect this trend to continue and encourage Utah’s business owners to work with participating lenders to submit their applications as soon as they can.”
The Small Business Administration resumed accepting PPP loan applications Monday, April 27 at 8:30 a.m. from approved lenders on behalf of any eligible borrower.
“The PPP has supported more than 1.66 million small businesses and protected over 30 million jobs for hardworking Americans. With the additional funds appropriated by Congress, tens of millions of additional workers will benefit from this critical relief,” said SBA Administrator Jovita Carranza. “We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously.”
All eligible borrowers who need these funds should work with an approved lender to apply. Borrowers should carefully review PPP regulations and guidance and the certifications required to obtain a loan.
For more information on the Paycheck Protection Program, visit: sba.gov/paycheckprotection.
UPDATE — Current Economic Injury Disaster Loan (EIDL) Figures:
National EIDL Figures
EIDL loans: 38,984 loans for $7,967,174,888.
EIDL Advances: 1,192,519 advances for $4,805,897,000.
Utah EIDL Figures
Covid-19 EIDL Advance — 9,799 loans valued at $42,757,000
EIDL Loans – 484 loans valued at $105,804,100
Helpful Links
https://www.sba.gov/paycheckprotection/find?utm_medium=email&utm_source=govdelivery&pageNumber=1
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.