Insights

MPL General Counsel Corner – Latest PPP numbers & An Update From Us

June 08, 2020

PPP stats were released by the SBA through 6/6.  The loan numbers for round 2 continued to decline versus the last update through 5/30.  The vast majority of recipients (98%) are receiving loans of $350k or below, while the average loan is ~$60k thus far in round 2.  The amount still available under the program remains at $130B.

As I have previously mentioned, the recent PPP modification passed and signed into law by the President may result in more activity moving forward.  However, given the recent economic numbers and the continued reopening of the economy, there may not be as great a demand for the recovery funds.  If you are considering applying, please make sure you are talking with your financial institution and professional advisors.

On another note, we want to say how much we value your time and feedback related to our updates.  Our goal from the very beginning was to provide as much assistance as possible to the small business community.  You are key to both the recovery and continued greatness of our Country.  As such, we also want to be mindful of your time and continue providing you with factual and actionable content.  Going forward, barring any major news, we will plan to send out our MPL General Counsel Corner every Friday starting this week.  For those that would like to include information on our emails, please continue to send them over.

Keep moving forward, things will get back to normal. 

Here are some other things that may be important or relevant for you:

Please see all of our prior updates at the this link or if you would like to be added to our email list, please click here

As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com) or anyone in our office with questions or comments.  

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