The U.S. Small Business Administration (SBA) announced on Tuesday that funding for the Paycheck Protection Program is, for the most part, exhausted. There are still funds available through a set-aside for community financial institutions, which generally focus on lending to businesses run by women, minorities and other underserved communities.
The SBA is now only offering PPP loans originating with Certified Development Companies (CDCs), SBA Microlenders, Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs). Please note that not all community financial institutions are participating in PPP. Loans will be available through these lenders until May 31, 2021, or until the remaining funds are exhausted.
Use the SBA’s links to find a participating PPP lender:
Use SmallBizHelp.wa to find a local PPP lender still accepting applications.
The SBA announcement also noted that it would continue funding PPP applications that have been approved but not yet funded. Additional PPP information from the SBA is available here.