Dear NPW Community:

This update is in response to questions that we have received from many of you. Thanks to Empire State Development – Mid Hudson Region for providing the information below.

Please also note the FREE clinics below.

As always, please feel free to reach me directly with any questions or concerns.

With gratitude,
Jan

Jan Fisher

Executive Director

Nonprofit Westchester

SBA Loan Program Update

U.S. Small Business Association (SBA)

COVID-19 Lending Programs (EIDL and PPP)

Appropriations have lapsed and new PPP/EIDL applications cannot be accepted. We are expecting new information about additional appropriations from Congress over the next couple of days and will share this immediately.

EIDL

• EIDL loans and advances are continuing to process in the order in which they were received.
• When the EIDL application is processed, the applicant will be notified.
  
  

PPP

• Borrowers must contact their lender for updates on their specific loan application.
• Applications approved by the lender and electronically submitted to SBA prior to the lapse in appropriations on Thursday were authorized (essentially instantly upon successful submission), and the bank must close and disburse the loan within 10 days of that authorization.
• Pending potential additional appropriations from Congress for PPP, nonprofits and small businesses should discuss options with their lender.

SBA Loan Program Reports

• EIDL Loans as of 4/20/2020
• EIDL Advances as of 4/20/2020
• SBA Paycheck Protection Program Loan Report as of 4/16/2020