The Small Business Administration (SBA) is reminding participating lenders in the federal Paycheck Protection Program (PPP) that the deadline for them to transmit any PPP loans to the SBA is tomorrow, June 30, before midnight. T
Any lender transmission to the SBA after this time will not receive the federal guarantee.
The program is aimed at helping thousands of small and midsize businesses nationwide offset their losses and economic difficulties due to the COVID-19 pandemic.
The SBA's Atlantic Region, which includes Puerto Rico, has received the following PPP funds, according to the agency's most recent report, dated June 27:
New York: 316,814 loans totaling $38,131,011,768 have been guaranteed. This is the 4th largest loan count total by state in the nation, following CA, FL, and then TX.
New Jersey: 144,523 loans totaling $17,099,289,297 have been guaranteed. This is the 2nd highest loan count and volume total in the Tri-State area (NY, NJ, CT).
Puerto Rico: 36,417 loans totaling $1,784,635,577 have been guaranteed.
U.S. Virgin Islands: 1,724 loans totaling $122,469,285 have been guaranteed.