ACEC Advocacy SVP Steve Hall Provides PPP Loan Update

ACEC News / Advocacy

April 16, 2020

ACEC Advocacy SVP Steve Hall Provides PPP Loan Update

By Steve Hall

As you may have seen already, Linda was appointed to represent ACEC on the President’s Great American Revival Industry Group on Construction, Labor and the Workforce, part of a larger group of business leaders advising the White House on a recovery agenda for the coming months.  Click here for the complete roster of organizations and businesses.

Additionally, SBA and Treasury have posted new documents to their respective PPP websites, including the latest update to the PPP FAQ document:

• Paycheck Protection Program Loans: Frequently Asked Questions (Updated)
• The Interim Final Rule announcing Additional Eligibility Criteria and Requirements for Certain Pledges of Loans for the Paycheck Protection Program. This information is being posted in advance of publication in the Federal Register.  The official version will appear in the Federal Register. 

SBA also released a slide deck yesterday summarizing PPP loan activity to date – note that the construction and professional services sectors have been heavy users of the program.  Through April 13, 2020, the SBA has guaranteed 1,035,086 loans under the Paycheck Protection Program. For more information on loan activity, click here.

We’re hearing of possible progress on a deal that includes an additional $250 billion for the PPP program.  I’ll keep you posted as we get further information and details.

Steve Hall is ACEC Senior Vice President Advocacy.

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