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ABA: The American Bankers Association
Statement

ABA Welcomes SBA's Staggered PPP Relaunch, Congratulates SBA Nominee Isabel Guzman

“America's banks welcome the SBA's announcement that the Paycheck Protection Program will restart next Monday for community development financial institutions and minority depository institutions, followed soon after by all lenders. Just as they did at the start of the pandemic, banks of all sizes across the country stand ready to help struggling small businesses gain access to these critical funds. More than 5 million small businesses benefited from the first rounds of PPP, helping to save millions of jobs. This additional assistance can help millions more while providing much-needed support to the broader recovery.

"Allowing CDFIs and MDIs—many of which are ABA members—first access to the PPP portal will help in providing this assistance to small businesses in underserved communities that may not have benefited from the first rounds of PPP. ABA will continue to encourage all banks to target PPP loans to businesses most in need when the portal eventually opens to all lenders.

"I also want to congratulate Isabel Guzman on her nomination to serve as SBA Administrator under President-elect Biden. Her previous experience at SBA and understanding of small business needs will serve her well in this important position. We look forward to working with her and will continue to provide whatever assistance we can to the incoming Biden administration to ensure a seamless transition for this unprecedented program."

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.8 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard nearly $19 trillion in deposits and extend $11 trillion in loans.

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