***Due to the Coronavirus-related orders issued by NC Governor Roy Cooper, the GCAA office is open on a limited basis. Staff will be available for drop-in visits on Tuesdays & Thursdays and are available by appointment only on Wednesdays. Staff will also be available by phone and e-mail. We thank you for your patience as we play our part in keeping our staff and broader community safe.***

 

The Paycheck Protection Program (PPP) Reopened in Full on January 19


On January 19,  the program reopened to all lenders, according to the Small Business Administration (SBA).

So far, the portal has been open to Community Development Financial Institutions, minority depository institutions, certified development companies and microloan intermediaries. The agency’s goal was to reach underserved and minority-owned small businesses.

The PPP is reopening after the most recent Covid-19 stimulus package allocated $284.45 billion for the program. The program is similar to last year’s but there are several provisions for this new round of funding, which affect who is eligible and how much borrowers can receive. To access a FAQ, click here.