UPDATE: 7/3/2020 - President Trump has signed this legislation. The application deadline for PPP loans has been extended to August 8, 2020.
Last night, the House of Representatives unanimously passed the extension of the PPP application deadline to August 8, 2020, mirroring the action taken by the Senate just the day before. The measure will now go to President Trump for his signature.
Under the program, the SBA had approved nearly 5 million loans, totaling more than $500 billion. Despite the PPP’s popularity, it had approximately $130 billion in unallocated funds when the original deadline (June 30) passed.
BGW remains committed to assisting businesses through this unprecedented time. For more information, please visit our COVID-19 Resource Page, or join us on today’s webinar at 11 a.m. EST as we discuss this development and other lingering issues surrounding the PPP.
