SBA Updates

Wednesday, April 15, 2020

Good Morning - -

 

There have been some significant additional guidance/updates emerge  as to the Paycheck Protection Program (PPP) so I wanted to provide a quick update.  Please note:  The links below are to the Treasury website (not SBA) which is where this information has first been located.  We were informed Monday via a telephone conference by the SBA Office of Capital Access that use of information on the Treasury website is valid.

 

  1. Interim Final Rule - Business Loan Program Temporary Changes; Paycheck Protection Program – Additional Eligibility Criteria and Requirements for Certain Pledges of Loans.  This document provide additional guidance on:
    1. individuals with self-employment income who file a Form 1040, Schedule C
    2. eligible businesses owned by directors or shareholders of a PPP Lender permitted to apply for a PPP Loan through the Lender with which they are associated
    3. businesses that receive revenue from legal gaming

 

https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses

 

  1. PPP Loan numbers – Many folks have been asking about how many PPP loans have been approved in Montana.  Attached are some slides which show data for all of the states.  As of 4/13/20 Montana had 10,372 loans for $1,293,105,048.

 

  1. FAQ Document additions – The FAQ document has several additions over the last couple of days as well and can be found at:

 

https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses

 

Thanks everyone; I hope this information is helpful.

 

-Brent.

 

Brent E. Donnelly

District Director – Montana

U.S. Small Business Administration

10 West 15th Street - 1100

Helena, MT  59626

Desk: 406-441-1083

Mobile: 406-439-7613

www.sba.gov

 

Category: COVID19, SBA Loans