SBA Achieves Historic Lending with the Paycheck Protection Program (PPP)
Summary
In this SBA news release, Release Number NH 21-11, dated March 31, 2021, the New Hampshire district office announces that lenders made 12,000 Paycheck Protection Program loans for $1 Billion since the program was relaunched in January 2021. Combined with 2020 results, the release says over 37,000 PPP loans have been approved for nearly $3.6B in New Hampshire since the program launched on April 4th, 2020. District director Amy Bassett credits the state's lending institutions. The release notes that on March 30 President Biden signed the PPP Extension Act of 2021, extending the program to May 31, 2021, and quotes SBA Administrator Isabella Casillas Guzman saying more than 8.2 million PPP loans have been made.
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NEWS RELEASE
Release Date: March 31, 2021 Contact: Cheryl.croto@sba.gov
Release Number: NH 21-11 Follow us on Twitter, Facebook, Blogs & Instagram
SBA Achieves Historic Lending with the Paycheck Protection Program (PPP)
New Hampshire reports loans reach over $1 Billion in Lending for 2021 as the
Program is extended through May 31st.
Concord – The NH district office of the US Small Business Administration today announced reaching a
milestone achieved in partnering with participating lenders to provide 12,000 Paycheck Protection
Program (PPP) loans for an unprecedented $1 Billion since the federal government relaunched the
PPP in January 2021 for small businesses, non-profits, and faith-based organizations. When
combined with 2020 results, over 37,000 PPP loans have been approved for nearly $3.6B in NH since
the program launched on April 4th, 2020.
“The delivery of the Paycheck Protection Program at these levels has only been possible because of
the strong commitment from NH lending institutions who have worked tirelessly with the SBA to
provide this vital economic aid to NH small businesses,” said Amy Bassett, SBA district director for NH.
“We’ve heard from countless business owners that the program has been critical to the survival of
their business and poises them for future growth.”
On March 30th, as President Joe Biden signed the PPP Extension Act of 2021 into law, extending the
Paycheck Protection Program an additional two months to May 31, 2021, and then providing an
additional 30-day period for the SBA to process applications that are still pending, Administrator
Isabella Casillas Guzman, head of the U.S. Small Business Administration, said:
“Today, President Biden sent another strong message to America’s more than 30 million small business
owners negatively impacted by the pandemic: help is here. By signing the PPP Extension Act of 2021 and
the American Rescue Plan Act into law, the President is providing additional critical relief to the smallest
of the small businesses – the mom-and-pop shops that line our Main Streets and keep our local and
regional economies going.
“The leadership of the Biden-Harris Administration, working with leaders of the House Small Business
Committee, Chairwoman Nydia Velázquez, and Ranking Member Blaine Luetkemeyer, Reps. Carolyn
Bourdeaux and Young Kim, and Senate Small Business and Entrepreneurship Committee Chairman Ben
Cardin, and Senators Jeanne Shaheen and Susan Collins, ensured a strong bipartisan vote to extend this
critical relief to hard-hit small businesses. More than 8.2 million PPP loans have provided struggling
small businesses with the relief they need to keep workers employed and make ends meets during this
pandemic. The SBA remains dedicated to reaching the heart and soul of the nation’s urban, rural, and
low-income communities – the smallest businesses – and removing barriers to access this vital relief.”
For more information about SBA’s loan programs, financial assistance, and other services, visit
www.sba.gov.
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About the Paycheck Protection Program
The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small
businesses to keep their workers on payroll.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. 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 www.sba.gov.
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