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.