December 20, 2020

Summit Bank is monitoring the Congressional approval of the emergency COVID-19 relief legislation bill totaling approximately $900 billion. The bill includes an additional allocation of funding to the Small Business Administration (SBA) for a new round of Paycheck Protection Program (PPP) loans. We are working with our current PPP clients on the newest round of PPP.

More information is on our PPP page.

A documented (subject to change) flyer we created today that differentiates the original PPP program established March 27, 2020 and the Second Draw PPP that is in the process of being finalized.

Once the Bill is signed by the President and established into law, SBA has 10 days to issue guidance and further details regarding the program.

Please continue to check our PPP website so that we can remain a source of information to your business about Second Draw PPP.

Thank you! Happy holidays.

-Summit Bank

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Summit Bank published this content on 23 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2020 01:54:01 UTC