Mississippi banks have worked with small business owners to originate new Paycheck Protection Program (PPP) loans since the popular program reopened in early January. So far, banks in Mississippi have assisted in securing 7,467 loans totaling $464,863,344 for small businesses across the state, as of data released by the SBA on 1/31/2021. This is in addition to the 48,010 loans totaling $3.2 billion processed during the first round of PPP.
“Banks continue to accept PPP applications, and we encourage small businesses to contact their banks to learn about important changes to PPP. Banks are working through some technical issues that are affecting some borrowers with these second-round loans and helping to process the loan applications as quickly as possible,” said Gordon Fellows, President and CEO, Mississippi Bankers Association. “Our members have been strongly committed to supporting Mississippi employers and families since the beginning of this pandemic, and PPP loans are still an important economic relief tool employers can take advantage of through the end of March or until funds are expired. “