President Trump has signed off on an additional $484 billion in coronavirus relief efforts, which
earlier in the week. This provides an addition $321 billion in funding for a small-business loan program (including the PPP program) that
its earlier $349 billion cap. This includes $60 billion to be set aside for small lenders.
We have been informed that many of you were not successful in applying for the first round. We suggest that you speak to your bank to see if they are accepting new applications or if you applied and were not successful if you have to resubmit or if they will resubmit on your behalf. Many banks (including PNC) are not accepting new applications but will resubmit any application that wasn’t successful the first round. It seems from what we are hearing that many nonprofits are more successful going to smaller banks/credit unions.
One of our congregations were successful through C-Bank who has informed us they are still accepting applications. Here is contact details for one of their bankers:
Sr. VP, Commercial Banking
Please let us know if you apply and if you are successful in your application. As always, if you have any questions, contact Carine de Lange at