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ABA: The American Bankers Association
Statement

ABA Statement on PPP Funding Agreement

“We welcome the Senate's passage of today's bipartisan agreement to provide additional funds for the SBA's Paycheck Protection Program. This legislation offers a much-needed financial lifeline to our nation’s small businesses and their employees at this difficult time. Thanks to the tireless efforts of America's banks, nearly 1.7 million small businesses have already received an average PPP loan of $206,000 according to the Treasury Department. Unfortunately, millions of other small businesses desperate for assistance were still waiting for help when the SBA funds ran dry, which is why this legislation is so critical.

"We urge the House to pass this bill quickly, so banks of all sizes can help even more small businesses weather this crisis. America's banks will continue to stand by their small business customers and do everything they can to deliver this relief quickly and efficiently, saving jobs and limiting the economic damage from this pandemic."

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $20.3 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $15.8 trillion in deposits and extend nearly $11 trillion in loans.

Press Contact

Ian McKendry

(202) 663-5473

Contact Ian
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