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ABA: The American Bankers Association
Statement

ABA Statement on PPP Expiration

"After overcoming initial problems at launch, the SBA's Paycheck Protection Program has provided a critical financial lifeline to small businesses across the country. Working in partnership with the federal government, banks of all sizes stepped up to deliver over $500 billion in PPP loans that helped small business customers in need, despite challenges from the ongoing pandemic and changing regulatory guidance. The size, scale and speed of the response was unprecedented.

"According to the Treasury Department, the 4.8 million PPP loans supported an estimated 50 million jobs. Unfortunately, there are still too many Americans and too many businesses feeling economic pain from this pandemic. As PPP expires, America's banks will continue to support their business customers and do their part to spur the economic recovery to come."

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $18 trillion in deposits and extend nearly $11 trillion in loans.

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Ian McKendry

(202) 663-5473

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