Senate approves 5-week PPP extension
Tuesday night (June 30th) the U.S. Senate, by unanimous consent, passed a 5-week extension of the Paycheck Protection Program (PPP). Before it takes effect, it needs to be passed by the House of Representatives and signed by President Trump.
There is approximately $129 billion in PPP funding that remains, and this move would allow small businesses additional time to apply for it. Previously, the SBA's deadline for applications was midnight on Tuesday, June 30. This extension would grant access to applications until August 8th.