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ABA: The American Bankers Association
Statement

ABA Statement on PPP Funding

“America’s banks were standing by their small business customers before the SBA’s Paycheck Protection Program and will stand by them now that PPP money is nearly depleted, which we hope is only temporary. Banks of all sizes will continue to work closely with small businesses in their communities to assess their options going forward. Small businesses unable to participate in PPP may qualify for other federal relief programs such as the Fed’s Main Street Lending Program.

“Given the success of PPP in getting money into the hands of small businesses quickly, we still believe that the best option is for Congress to appropriate additional federal funds as soon as possible given the potential economic damage to small businesses and their millions of employees from this pandemic. We again call on lawmakers to approve additional funding expeditiously, so America’s banks can continue to provide this important financial lifeline to small businesses, and help put the nation on the path to recovery.”

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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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