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Paycheck Protection Program 2 Funding Summary

SDCU recently wrote to House and Senate Leaders on the need for additional PPP funding.
Based on our sources on Capitol Hill, here are some outlines:

  • $372 Billion in additional SBA Funding
    $250 Billion for PPP
    + $30 Billion for loans made by Insured Depository Institutions and Credit Unions that have assets between $10 billion and $50 billion; and
    + $30 Billion for loans made by Community Financial Institutions, Small Insured Depository Institutions, and Credit Unions with assets less than $10 billion.
    = $310 Billion in new PPP funding
    + $2 Billion in Administrative Costs
  • $100 Billion in additional Health and Human Services Funding
    $75 Billion for Hospitals
    + $25 Billion for Testing
    = $100 Billion Total

We're excited to launch our PPP Applicant Interface.