- PPP numbers for Montana (as of 5/30/20)
22,124 loans for $1,742,270,456
- EIDL Loan numbers for Montana (as of 5/31/20 )
2633 loans for $180,306,800
- PPP Forgiveness
The PPP Loan Forgiveness Application and Interim Final Rule on Loan Forgiveness have been put up on the SBA and Treasury websites. A number of businesses are either at or close to the 8-week period described in the initial Interim Final Rule. With this, the Montana SBA has begun to receive some questions at the District Office on loan forgiveness from small business, lenders, accountants and others. They were planning to hold a webinar this week for our Resource Partners and lenders, but have decided to hold off for a few more days as it appears some changes to the program may be on the horizon. Last week the House passed a bill that makes some changes to the PPP program. Based on the reading of some news stories, it seems likely the Senate would consider changes soon as well. If there are some changes made, holding off on a webinar this week should help mitigate confusion. If no changes come through, the SBA will pick up with what is out there and continue moving forward.
A reminder that guidance for available SBA programs can be found at the SBA and Treasury websites:
Also, do not forget that “regular” SBA programs are available to assist small business with: Access to Capital, Counseling and Government Contracting and the Debt Relief component of the CARES Act provides for the SBA making six months of payments on new SBA loans fully disbursed by September 27, 2020 https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief.