Senate extends Paycheck Protection Program loan deadline to Aug. 8th - $130B available
Small businesses and startups still interested in getting a Paycheck Protection Program loan now have more time to do so. And $130 billion in loans remains available.
The US Senate on Tuesday passed an extension of the program to August 8, 2020. Applications were due to close on June 30.
“Under the bill passed by the Senate by unanimous consent, the deadline for applying for PPP loans — which go to businesses with fewer than 500 employees — would be extended until August 8th.
The extension could mean new life for businesses looking for lifelines to stay open.
Jessica and Richard Fierro are among more than 4.5 million small business owners who have so far tapped into the $660 billion Paycheck Protection Program — the massive federal effort to keep the backbone of the US economy afloat amid the coronavirus-driven recession.