Small Business and Paycheck Protection Program Update

SUPPORTING OUR SMALL BUSINESSES

• Small businesses are vital to our nation’s economy, and President Trump is committed to ensuring they have the support they need during this challenging time.
• President Trump is working with Congress to secure additional funding for the critical Paycheck Protection Program.
  • PRESIDENT TRUMP ON 4/20/20: “My administration continues to press Congress to replenish the enormously successful Paycheck Protection Program, which has impacted 30 million American jobs. We hope to have an agreement very soon.”
• The Paycheck Protection Program has already processed nearly $350 billion in loans to 1.6 million small businesses.
  • PRESIDENT TRUMP ON 4/18/20: “Through the Paycheck Protection Program, we’ve already processed nearly $350 billion to 1.6 million small businesses across the nation to keep American workers on the payroll.”

KEEPING WORKERS EMPLOYED

• The Paycheck Protection Program is helping small businesses keep millions of workers on payroll during this crisis.
  • PRESIDENT TRUMP ON 4/18/20: “Our swift action is directly supporting 30 million American jobs.”
• President Trump’s efforts are having a real impact on small businesses across the country.
  • PRESIDENT TRUMP ON 4/18/20: “Amy Wright, from North Carolina, as an example, said the program is a ‘game changer’ for her and her family, it’s coffee shops. And she has 120 employees, many of whom have developmental and intellectual disabilities.  And now they’re all staying, and they’re getting paid.”
  • PRESIDENT TRUMP ON 4/18/20: “Scott and Julie Alderink helped lead a church and own a restaurant in South Dakota, with about 15 employees. They were already starting layoffs… But now they’ve hired their employees back, and they can keep the restaurant open.”