The CARES Act
On Friday, April 3, the federal government released funding for the Paycheck Protection Program (PPP), and again on Friday, April 24. Through both rounds of federal relief, HSBC worked tirelessly to support our customers. Hundreds of our colleagues volunteered to process loans for each customer, with all of our eligible applicant customers receiving their much-needed funding to aid in the economic recovery.
After careful consideration, HSBC will not currently be accepting new PPP applications as we focus our team's efforts on preparing to process existing PPP loan forgiveness applications.
We appreciate your patience as we navigate this challenging time together.
As of May 21, we had: