| The Paycheck Protection Program resumed accepting applications today, July 6, in response to the Paycheck Protection Program Extension Act. The new deadline to apply for a PPP loan is now August 8, 2020. If you are interested in applying for PPP assistance for your small business, nonprofit, or agricultural business, please contact your bank to see if they are participating or find another participating lender at: https://www.sba.gov/paycheckprotection/find As of June 30, 2020, SBA's Paycheck Protection Program has had the following outcomes in Arkansas: - 42,427 Arkansas businesses received PPP loans
- $3.3 billion in PPP loans have been awarded to Arkansas businesses
- $78,246 is the average PPP loan received by an Arkansas business
- 375,741 Arkansas jobs retained thanks to PPP loans
Find a PPP lender near you at https://www.sba.gov/paycheckprotection/find or visit the AR District Office Webpage for a list of lenders in Arkansas at https://www.sba.gov/sites/default/files/files/Lender-List-v1.pdf
About the Paycheck Protection Program:
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive PPP loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. (60% must be used for payroll expenses).
Please sign up and encourage your businesses to sign up for direct updates from SBA at SBA Updates. For immediate assistance with your PPP loan application or finding a lender, please contact the SBA Arkansas District Office at 501-324-7379 or by email at Arkansas_DO@sba.gov. The information contained in this publication does not constitute an official endorsement or approval by the U.S. Small Business Administration. All SBA programs and services are extended to the public on a nondiscriminatory basis. |