SPRINGFIELD – U.S. Senator Dick Durbin (D-IL) today urged the leaders of the Illinois Bankers Association, Illinois Credit Union League, and Community Bankers Association of Illinois to encourage their members to participate in the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) to help ensure that small businesses across the state have access to the resources they need to survive the economic consequences they are facing due to the coronavirus pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law last week, created the Paycheck Protection Program to provide immediate and much-needed financial assistance to our nation’s small businesses.
“In light of the recent guidance issued by the Treasury Department and SBA, I urge you to encourage your members to participate in the Paycheck Protection Program to help ensure that small businesses across the state have access to the resources they need to survive the economic consequences they are facing due to the coronavirus pandemic,” Durbin wrote. “I am counting on you to bring this new SBA program to life. Our small businesses are counting on you to be there for them when they need it most. The banking industry is based on confidence and trust, and I know that the communities you serve will remember the actions your institutions took during this unprecedented crisis.”
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