President Trump Signs Five-Week Extension for Paycheck Protection Program Loan Applications

On July 4, 2020, President Donald Trump signed into law an extension for the Paycheck Protection Program (PPP) loan application. The original deadline was scheduled for midnight on June 30, but has now been moved to August 8, 2020.

This extension allows $129 billion in remaining PPP funding to stay available to small businesses that are struggling amidst the COVID-19 pandemic and corresponding economic shutdowns. Application information can be found on the U.S. Small Business Administration (SBA)’s PPP website here.

More information and resources about the PPP can be found on the BSSF Blog here: https://www.bssf.com/blog/paycheck-protection-faq/