On Saturday, Trump signed into law an extension for small businesses to apply for the Paycheck Protection Program (PPP). The deadline is now extended through August 8th, pushed back from the earlier June 30th end date.
Over 4.8 million small businesses have gained $520 billion in potentially forgivable loans since the program’s inception in March.
The good news for businesses is that $130 billion in PPP funding is still available. If your business has not yet received its share, talk to your banker about starting an application.
For a summary of the most recent changes in how you can use PPP dollars, read our earlier post: NEW Law on 6/5 Makes PPP Even Better