SBA achieves historic lending with the Paycheck Protection Program

The Telegraph, Nashua, N.H.
·2 min read

Apr. 2—CONCORD — The New Hampshire district office of the US Small Business Administration today announced reaching a milestone achieved in partnering with participating lenders to provide 12,000 Paycheck Protection Program (PPP) loans for an unprecedented $1 Billion since the federal government relaunched the PPP in January 2021 for small businesses, non-profits, and faith-based organizations. When combined with 2020 results, over 37,000 PPP loans have been approved for nearly $3.6B in NH since the program launched on April 4th, 2020.

"The delivery of the Paycheck Protection Program at these levels has only been possible because of the strong commitment from NH lending institutions who have worked tirelessly with the SBA to provide this vital economic aid to NH small businesses," said Amy Bassett, SBA district director for NH. "We've heard from countless business owners that the program has been critical to the survival of their business and poises them for future growth."

On March 30th, as President Joe Biden signed the PPP Extension Act of 2021 into law, extending the Paycheck Protection Program an additional two months to May 31, 2021, and then providing an additional 30-day period for the SBA to process applications that are still pending, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, said:

"Today, President Biden sent another strong message to America's more than 30 million small business owners negatively impacted by the pandemic: help is here. By signing the PPP Extension Act of 2021 and the American Rescue Plan Act into law, the President is providing additional critical relief to the smallest of the small businesses — the mom-and-pop shops that line our Main Streets and keep our local and regional economies going.

"The leadership of the Biden-Harris Administration, working with leaders of the House Small Business Committee, Chairwoman Nydia Velázquez, and Ranking Member Blaine Luetkemeyer, Reps. Carolyn Bourdeaux and Young Kim, and Senate Small Business and Entrepreneurship Committee Chairman Ben Cardin, and Senators Jeanne Shaheen and Susan Collins, ensured a strong bipartisan vote to extend this critical relief to hard-hit small businesses. More than 8.2 million PPP loans have provided struggling small businesses with the relief they need to keep workers employed and make ends meets during this pandemic. The SBA remains dedicated to reaching the heart and soul of the nation's urban, rural, and low-income communities — the smallest businesses — and removing barriers to access this vital relief."

For more information about SBA's loan programs, financial assistance, and other services, visit www.sba.gov.