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Bank of America Receives Approval for 265,500 SBA Paycheck Protection Affairs Loans to Date for Baby Businesses
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Bank of America appear today that it has accustomed Baby Business Administration (SBA) accommodation approvals for 265,500 baby businesses beneath the SBA’s Paycheck Protection Affairs (PPP). This represents $24.9 billion in bare abatement for baby businesses. Added than 256,000 of these baby businesses accept accustomed a accommodation cardinal back the SBA reopened the PPP allotment on April 27.
Of the SBA applications submitted to date:
Since the SBA reopened on April 27, Bank of America:
Has beatific 213,000 promissory addendum to baby businesses advertence SBA accommodation approval. Is the cardinal one SBA lender in the additional annular of funding.
“We candy applications for added than 250,000 baby businesses during the additional appearance of this program, and we abide to accept and action new applications. We are blessed to see the SBA has been processing submissions at a faster rate, and hopefully there is acceptable allotment for anybody in need,” said Dean Athanasia, arch of Consumer and Baby Business at Bank of America.
Bank of America continues to accommodate non-government-related lending to baby businesses. According to the Federal Deposit Insurance Corporation (FDIC), Bank of America is the No. 1 lender to baby businesses in the United States.
While no fees accompanying to the PPP accept been accustomed from the SBA, the aggregation appear that net gain accompanying to PPP fees will be committed to abutment baby businesses and the communities and nonprofits we serve.
In accession to lending through the PPP, Bank of America is accouterment abutment to barter including:
Bank of America is acknowledging communities area our audience alive and work:
For questions accompanying to a Bank of America annual and the Paycheck Protection Program, audience can acquaintance us at [email protected]
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