April 20th, 2020
As you have no doubt heard in the news, the SBA’s Paycheck Protection Program had exhausted all the available funding in the initial round by mid-April; however, the Trump administration and Congress are expected to reach an agreement this week on an additional aid package to fund the program.
We have currently notified all of our members who have applied for the PPP. Until the government greenlights another round of funding, we are in a holding pattern on both existing applications that remain unfunded and on accepting new applications.
We realize how important these SBA funds are to your business and we are doing all we can to help our Business members at this time. We will continue to provide all updates and communications with our Business members regarding PPP loans via email. Please continue to check Campus Federal News/Media for updates on the latest COVID-19 related information.