As of Tuesday, May 4, the SBA announced that the funding for the Paycheck Protection Program Extension Act had been exhausted, and the PPP application portal will stop accepting applications for loans. Regrettably, we are unable to take any new PPP applications at this time.
The SBA will not accept applications in progress or waiting for underwriting approval, and we will be contacting those businesses directly affected individually. We will hold the in-progress applications until the end of May if the situation changes and the SBA re-opens the program. If that should occur, we will notify applicants who had applications in progress and post a notice on our website.
Although new loan funding for the Paycheck Protection Program has been exhausted through banks, new qualifying applications may still be available through Community Financial Institutions, financial lenders who serve underserved communities. While there are no NH based CDFI’s or MDI’s currently participating in PPP, please visit the following site to find the nearest participating CDFI: CDFI Locator | Opportunity Finance Network (ofn.org).
We sincerely appreciated your patience as we all navigated the complexities of the SBA’s PPP Loan Program.