Good Afternoon Association Executives,
I hope you are all doing well and enjoying NatCon21. I wanted to provide you an unfortunate update regarding the Paycheck Protection Program (PPP).
The Small Business Administration (SBA) has announced that is has exhausted the funding allocated to the PPP and will stop accepting most new applications for loans despite the previously announced May 31, 2021 deadline. Some funds do remain available for lenders to finish processing applications that were already submitted to the agency.
The focus now shifts to Congress to determine whether or not another round of funding will be provided to continue the program.
Thank you so much and please let me know if you have any questions.
Stephanie Katz
Director, Federal Policy and Advocacy
National Council for Behavioral Health
Stephaniek@TheNationalCouncil.org
------------------------------
Neal Comstock
Director of Membership
National Council
NealC@TheNationalCouncil.org202 748-8793
------------------------------