Some Banks Closing Window to Submit PPP Application
We have been informed that some banks have reached or are reaching their maximum lending limit for the SBA’s Paycheck Protection Program (PPP) and may not be able to accept additional requests for a loan through the PPP. Please contact your bank for more information. If your bank is one of the banks that have met its cap, we suggest that you contact another bank that you have worked with in the past, particularly large regional banks. The Economic Injury Disaster Loan (EIDL) remains another option for small businesses, and application for the EIDL can be made in addition to the PPP.
This communication should not be construed as tax or legal advice or tax or legal opinion on any specific facts or circumstances. This communication does not create any accountant/client or attorney/client privilege. The contents are intended for general informational purposes only, and you are urged to consult a tax advisor or lawyer concerning your own situation and legal questions.