ISSUE BRIEF: PPP portal has reopened for loans with additional $310 billion

Tonda Rush

Apr 28, 2020

The Paycheck Protection Act (PPP) portal has reopened for loans with an additional $310 billion in newly appropriated funds from Congress.  Community newspaper publishers report that they have run into difficulties securing loans from large banks. The most recent Congressional appropriation set aside $30 billion for small lenders with less than $10 billion in assets and $30 billion for mid-sized lenders with assets less than $50 billion.  Loan applications will stop when funds run out. 

Publishers still running into difficulties are encouraged to try small and mid-sized lenders, including credit unions.  Here are some institutions whose doors are reportedly still open (note: this list is not exhaustive — please try your local lenders first):