SBA Paycheck Protection Program Loans Run Out of Money

TAKE ACTION: Add More Funding to and Simplify Eligibility for SBA Loans

AGC is asking all members to call on the Trump Administration and Congress to provide more funds to and simplify construction firm eligibility for the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loans. On April 16, the SBA announced it lent all funds—$349 billion—through the PPP. Negotiations to provide more funds for this critical loan program remain stalled. Meanwhile, construction firms may have loan applications waiting to be approved without a clear timeframe as to when or if such funds would arrive. In addition, the determination of whether some construction firms are eligible for these loans depends on interpretations of complex SBA regulations, leaving some firms on the sidelines. Click here to contact the administration and your members of Congress about this issue.

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