SBA Paycheck Protection Program

The Small Business Administration’s Paycheck Protection Program is intended to deliver much-needed financial relief to the nation’s small businesses affected by the COVID-19 crisis. America’s banks are working in partnership with the federal government to get these new funds to businesses in need as quickly as possible. Learn more about the program, the latest rules and guidelines for lenders to participate and other relevant information below.

News

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SBA Issues Procedural Notice Addressing Second-Draw Loans
January 28, 2021
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SBA Announces Improvements to PPP Loan Review Process
January 27, 2021
NewsByte
ABA Raises PPP-Related Issues in Letter to SBA, Treasury
January 26, 2021
NewsByte
SBA Updates Rules, Forms for PPP Loan Forgiveness
January 20, 2021

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Government Resources and Guidance

Federal Reserve Board

Federal Reserve Board announces rule change to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program (April 17)

Treasury

SBA

PPP: Myth vs. Fact (Dec 2020)
Researching Loan Data (Updated May 14, 2020)
XML File Submission Process for Paycheck Protection Program (April 27)
SBA Standard Loan Note (Form 147)
SBA's Paycheck Protection Program
Interim Final Rule Implementing SBA’s Paycheck Protection Program (April 2)
Form 3506 (to gain PPP lending authority) Note that completed forms can be submitted to [email protected]. (April 4)
Faith-based borrower eligibility (April 4)

COVID-19 Relief Bill – Media Talking Points

The latest round of coronavirus relief includes $284 billion in new funds for the Paycheck Protection Program. For media talking points on the bill and its financial services-related provisions, download our backgrounder.

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ABA Resources

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We Were Economic First Responders: The Podcast

From the ABA Banking Journal Podcast team comes the behind-the-scenes story of the Paycheck Protection Program, the largest economic rescue program in American history.

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Related Training & Events

Beyond PPP: The Implications for Small Businesses and Consumers as the Economy Approaches a ‘New Normal’
Recorded Webinar | July 1, 2020

Join Dr. Robert Wescott and Jeff Jensen, president and vice president respectively of Keybridge Research, as they provide their economic outlook for the remainder of the year with a focus on the small business sector.
Small Business Administration Loans: Options for Helping Your Customers Through the Pandemic
Recorded Webinar | March 26, 2020

Join experts in this free ABA member webinar from the U.S. Small Business Administration’s Office of Disaster Assistance and Office of Capital Access to learn how banks can put SBA programs to use to help their small business customers affected by the coronavirus pandemic.

External Resources and Guidance

U.S. Chamber of Commerce: Coronavirus Emergency Loans Small Business Guide and Checklist

Industry Providers are Supporting Banks Participating in the SBA’s Paycheck Protection Program

Learn about the solutions ABA Endorsed/Strategic Partners and ABA Associate members are providing banks participating in the SBA’s Payment Protection Program.

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Policy Analysis & Advocacy Efforts

Letter to Congress & Regulators
ABA Letter to Treasury and SBA: Paycheck Protection Program
January 25, 2021
Staff Analysis
PPP Reopening and Interim Final Rules on First Draw and Second Draw PPP Loans
January 15, 2021
Staff Analysis
Coronavirus Response and Relief Supplemental Appropriations Act
December 21, 2020
Letter to Congress & Regulators
Joint FS Trades to Chairmen and Ranking Members of House and Senate Small Business Committees: EIDL Advances and PPP Forgiveness
October 19, 2020

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