Almost Two Weeks After PPP Rollout, Arkansas’ Banks are Fully Engaged and Lending to Small Businesses
April 13, 2020
Since the federal Paycheck Protection Program (PPP) was rolled out almost two weeks ago, banks in Arkansas have been working with their customers around the clock and actively lending to small businesses. Today the Arkansas Bankers Association received information on the number of loans that have been approved and the value of those loans.
Lorrie Trogden, President/CEO of AR Bankers Association said, “This snapshot shows what Arkansas banks have accomplished in the first two weeks of the program. Banks are still vigorously processing PPP applications to support small businesses who have been impacted by COVID-19. I am incredibly proud of our bankers who are providing crucial financial assistance to a key sector of Arkansas’ economy, all while working in a challenging socially distant environment.”
NOTE: This data comes from the SBA as of 4/13/2020.
Data as of Tuesday, April 13th:
- At least 14,803 PPP loans have been approved;
- The value of those approved PPP loans is $2,166,563,254
Trogden continued, “Each one of these loans represents jobs saved, we know that keeping employees on business payrolls will keep Arkansas’ economy moving. Arkansas Banks are here to help. Since day one, banks have engaged as trusted partners to help keep our businesses open and our fellow Arkansans employed.”