Washington, D.C. — Bank Policy Institute released the following statement in response to the Senate passage of the Paycheck Protection Program Extension Act today:
BPI supports Congress’s extension of the PPP application deadline and the additional timing to allow lenders and the SBA to process those applications. Borrowers in urgent need of funds should not be denied access to this program due to administrative and technical challenges that have slowed the SBA’s loan processing efforts. Banks are committed to helping ensure these funds reach America’s small businesses and their employees as they continue to weather the negative economic effects of the pandemic.
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Media Contact:
Sean Oblack
sean.oblack@bpi.com
202.589.2456
