Assisted NC businesses in winning 3,470 contracts minimum value of $13.28 billion

Lending Operations Update

By: Thomas A. Stith III
District Director
NC District Office

Paycheck Protection Program (PPP) Operations Update:

SBA and Treasury value all lenders and their small business customers.  To ensure access to the PPP loan program for the smallest lenders and their small business customers, starting at 4 p.m. today EDT through 11:59 p.m. EDT, SBA systems will only accept loans from lending institutions with asset sizes less than $1 billion dollars.

Please note, lending institutions with asset sizes less than $1 billion will still be able to submit PPP loans outside of this time frame. Please also note that lenders with asset sizes greater than $1 billion will be able to submit loans outside of today’s 4 p.m. -11:59 p.m. EDT reserved processing time.

This reserved processing time applies today April 29, 2020. SBA and Treasury will evaluate whether to create a similar reserved time again in the future.  SBA and Treasury continue to monitor loan system performance and will continue to provide frequent updates to the lending community.

Policy Update:

Debt Relief on 7(a), 504 and microloans:

SBA PPP home page:  https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp

Treasury Department PPP home page: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses

  • Interim Final Rules
  • Frequently Asked Questions 
  • How to Calculate Loan Amounts
  • More

EIDL Inquiries:

If your clients have questions regarding their EIDL application, please be aware that the district office does not have access to the disaster loan database.  Such inquiries must be directed to:

 




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