Assisted NC businesses in winning 4,543 contracts minimum value of $17.12 billion
Support Provided by Fayetteville Technical Community College

Resumption of the Paycheck Protection Program

President Trump has signed legislation, passed by the U.S. Congress, that will provide an additional $484 billion in funding for various COVID-19 related programs.  Of the total, $310 billion will go to replenish the Paycheck Protection Program (PPP) while $60 billion will replenish the Economic Injury Disaster Loan (EIDL) program.  In order to ensure underserved communities are not overlooked, the legislation authorizes appropriations as follows:

  • At least $30 billion available for banks and credit unions between $10 – $50 billion in assets; and
  • At least $30 billion available for banks and credit unions less than $10 billion in assets, as well as community financial institutions.

The legislation includes funding to enable smaller types of businesses to access funding that may not have been obtainable previously. 

To that end, the SBA North Carolina District Office has provided a listing of North Carolina-based banks, credit unions, and community development financial institutions participating in PPP based on asset-size categories.  The listing will be updated as new lenders come on board.

In addition to North Carolina-based PPP lenders, the SBA continues to maintain its general listing of lenders.  This listing includes lenders active in SBA lending during the past fiscal year and includes many notable lenders not based in North Carolina.

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

The NC Military Business Center, the NC Community College System, and the State of North Carolina do not officially endorse events. These items are posted strictly for the information and convenience of NCMBC customers.

website by Biz Tools One