Businesses get extension for PPP loans

Apr 1, 2021
Written by wpengine

Businesses who need help covering payroll costs during the COVID-19 pandemic have an additional 60 days, until May 31, to file a Paycheck Protection Program (PPP) application under a bill President Joe Biden signed into law this week.

The application period was set to close Wednesday of this week. The PPP program is designed to help struggling businesses with 500 or fewer employees to keep workers employed during the pandemic emergency with loans that are forgivable if certain criteria are met. The U.S. Small Business Administration (SBA) oversees the program.

Read more about this here. SBA information about the program is here.