Paycheck Protection Program Resumes Monday, April 27th
Legislation passed the Senate, House and was signed by President Trump last Friday infusing the Paycheck Protection Program (PPP) with an additional $310 billion in funding. Loans had halted when the program exhausted the $350 billion initially authorized for the Program by Congress. Applications will be accepted by lenders at 10:30 am EDT on Monday, April 27, 2020. It is important to note that $60 billion dollars of the funding is set aside for smaller community banks and credit unions. NFSA companies who wish to apply can download the application here and find a participating lender in your area here.
We know these are trying times for many of our members, and we are hopeful that this additional funding will be put to good use across the fire sprinkler industry. Here’s a link to an article that does a good job of explaining the additional funds as well.