{"id":32646,"date":"2020-04-17T18:43:08","date_gmt":"2020-04-17T18:43:08","guid":{"rendered":"https:\/\/www.vailvalleypartnership.com\/?p=32646"},"modified":"2020-04-17T18:48:29","modified_gmt":"2020-04-17T18:48:29","slug":"statement-from-secretary-steven-t-mnuchin-and-administrator-jovita-carranza-on-the-success-of-the-paycheck-protection-program","status":"publish","type":"post","link":"https:\/\/www.vailvalleypartnership.com\/2020\/04\/statement-from-secretary-steven-t-mnuchin-and-administrator-jovita-carranza-on-the-success-of-the-paycheck-protection-program\/","title":{"rendered":"Statement from Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Success of the Paycheck Protection Program"},"content":{"rendered":"<p align=\"start\"><em><strong>Notice from VVP:<\/strong> Even with the success for the first enrollment of the federal relief loans of the CARES Act, the #SaveSmallBusiness group consisting of chambers of commerce across the United States are still advocating for additional funding to be approved by Congress.<\/em><\/p>\n<p class=\"gd_p\" align=\"start\"><strong>WASHINGTON <\/strong>\u2013 Today, U.S. Small Business Administration Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement regarding the success of the Paycheck Protection Program (PPP):<\/p>\n<p align=\"left\">\u201cThe Treasury Department and SBA launched the unprecedented Paycheck Protection Program in just one week.\u00a0 Following its launch, the SBA processed more than 14 years\u2019 worth of loans in less than 14 days, which will protect a vast number of American jobs.<\/p>\n<p align=\"left\">\u201cThe PPP enjoyed broad-based participation across the country from lenders of all sizes and a wide array of industries and businesses.\u00a0 From its start on April 3, PPP provided payroll assistance to more than 1.6 million small businesses in all 50 states and territories.\u00a0 Nearly 5,000 lenders participated in this critical program, including significant lending by community banks and credit unions.\u00a0 Nearly 20% of the amount approved was processed by lenders with less than $1 billion in assets, and approximately 60% of the loans were approved by banks with $10 billion of assets or less. No lender accounted for more than 5% of the total dollar amount of the program.<\/p>\n<p align=\"left\">\u201cThe vast majority of these loans\u201474% of them\u2014were for under $150,000, demonstrating the accessibility of this program to even the smallest of small businesses.<\/p>\n<p align=\"left\">\u201cThe PPP provided funds to a wide variety of industries in all sectors of the economy, including construction, manufacturing, food and hospitality services, health care, agriculture, and retail, among many others.\u00a0 This demonstrates the broad diversity of PPP and its support for American workers across the board.<\/p>\n<p align=\"left\">\u201cThe Paycheck Protection program is saving millions of American jobs and helping small businesses get through this challenging time.\u00a0 We urge Congress to protect millions more American workers and their families by appropriating additional funding to support PPP.\u201d<\/p>\n<p align=\"left\">Click <a href=\"https:\/\/url.emailprotection.link\/?biJCkIXqbv3XkhKTs_6jJLH-c6pcsp45TuwTgs28Ouba8Q7DNsGi68Vv7GQWvFFqUd4KXQ_8i_wXHTBbMuMan121Eh3FEmTUr_QfS9oLZ40mZeGfxDbISrGdQBYD4LNH4MupC_BcvmDYFjlzU2pIGXITahe-tQPdEz5XyQk6IGOiWiPFsDyqa5n3OIb3pYkFdMDyx4Kl6t-G-i49CaiP3rHBmYEEQI0E6BJ56qvcVO42V34vekg_peXykpC81_BhaaatPhLH15UzsI3DIhbImxiNegX8VeTH1DYjblgaQaNvBSZ-CvFNTvQy8aaXFwAIM0Qgzsaq8LhFgE_rvTB38L9TZ2JfhARhTgTznVosl6jzGAFurTlL--1qOfLhMHumew0N_yYdtG9IdjiAykq5Tbw6aiVZUZFeu22csqBcG8SbbLQLdqTYKd4uPeAxgFrlMCijYPXwWFPIOTFk3azvaFrGEaRFhXVFC8TnsOSUVuvoSPRLfHgsfMahQPaCJ-tdo\">HERE<\/a> to view the data.<\/p>\n<p class=\"gd_p\" align=\"center\">###<\/p>\n<p class=\"gd_p\" align=\"left\"><strong>About the U.S. Small Business Administration<\/strong><\/p>\n<p class=\"gd_p\" align=\"left\">The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit <a href=\"https:\/\/url.emailprotection.link\/?bKjB2CxySOXm05Mh9OSzAvfXh8ORgi68oOBWedTsZ4g-AZa_lRwq8LeC8ik1_IwGjnxpMUIOBA9jR5C6XEn16myn16SxW-UL7_WF9ZyGN0uzWpywXaC43zadMNFSK9k3dHMTd9HHWTwSUD14YqbCaCA6kkexSXeVA7sCibVFP8BfYhpRg9AtqGNzOJTpNkQVbUhKJyLlEtMLujQg2wGU71wdjPB8Dkh607ovOPAhntjvApT3IRc3H6MKcJAF4DNCMnA6i6Z5rF4MzlxMqpnIoeM3dG9NXD8ULTOPK39SPPZSMig_-wmSoV_hmFX5LLd6aOV_gYQRPakNRBn1QSpKZDm2LGoaSqw2Sst-54JbFB9IgiHt-SKKedTnz5QVsCSzh\">www.sba.gov<\/a>.<\/p>\n<table class=\"main-table\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"center\" bgcolor=\"#FFFFFF\">\n<tbody>\n<tr>\n<td id=\"main-body\" width=\"100%\" data-govdstyle=\"all\" data-govdtitle=\"Main Body\">\n<h1 align=\"center\"><\/h1>\n<h2 align=\"center\"><\/h2>\n<p class=\"gd_p\" align=\"center\">\n<\/td>\n<\/tr>\n<tr>\n<td id=\"bottom-body\" width=\"100%\" data-govdstyle=\"all\" data-govdtitle=\"Bottom Body\">\n<p class=\"gd_p\" align=\"left\">\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Notice from VVP: Even with the success for the first enrollment of the federal relief loans of the CARES Act,&#8230;<br \/><a class=\"read-more\" href=\"https:\/\/www.vailvalleypartnership.com\/2020\/04\/statement-from-secretary-steven-t-mnuchin-and-administrator-jovita-carranza-on-the-success-of-the-paycheck-protection-program\/\">Read More<\/a><\/p>\n","protected":false},"author":17931,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[87],"tags":[675,723,2347,2219,2263,2233,734,173,741,916,2247,917,2331,2345,1641,2270,199,2235,1184],"class_list":["post-32646","post","type-post","status-publish","format-standard","hentry","category-community-press-releases","tag-avon","tag-business","tag-cares-act","tag-coronavirus","tag-covid","tag-covid-19","tag-eagle","tag-eagle-county","tag-edwards","tag-gypsum","tag-loan","tag-minturn","tag-paycheck-protection-program","tag-ppp","tag-recovery","tag-sba","tag-vail","tag-virus","tag-wolcott"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Statement from Secretary Steven T. 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