Senate passes extension of application deadline for PPP small-business loans


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(Worthy News) – The Senate on Tuesday cleared legislation to extend the deadline for businesses to apply for coronavirus aid under the Paycheck Protection Program (PPP), which will expire at the end of Tuesday.

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 Aug. 8.

There’s approximately $130 billion in unspent money under the Paycheck Protection Program, which has prompted a discussion among lawmakers about what to do with the funds. [ Source: The Hill (Read More…) ]

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