Paycheck Protection Program Deadline Extended Until August 8

Paycheck Protection Program Deadline Extended Until August 8

Posted on 07/09/2020 at 03:20 PM by The Newsroom

Important updates to the Paycheck Protection Program

President Donald J. Trump signed legislation on July 4 to extend the deadline for small businesses to apply for the Paycheck Protection Program. Businesses now have until August 8, 2020, to receive funding.

This decision extends the original deadline of June 30th where over $130 billion of funds still remained to help eligible small businesses cover costs. The program was designed to provide relief for costs related to rent, utilities, payroll costs, and mortgage interest. This extension provides a safeguard to the struggling small businesses that have yet to apply.

If you have any questions regarding the Program, please contact us for assistance.

For more information on the Paycheck Protection Program, please visit the following previously published articles:

COVID-19: Paycheck Protection Program – Forgivable Loans for Businesses under SBA 7(a) Program

The Coronavirus Relief Bill that was passed by the United States Senate and House provided small businesses and other organizations the ability to obtain loans to cover eligible expenses during the coronavirus epidemic. This article provides insights.

On-Demand Webinar: COVID-19 Relief Options and Your Business

Business owners are in a tough position during the COVID-19 pandemic. They must look to their bottom line at a time when little revenue is being generated, while at the same time take into consideration what’s best for the health and safety of their employees and customers alike.

COVID-19: SBA Releases Final Payroll Protection Program Rules

On April 2, 2020, the U.S. Small Business Administration (SBA), released its final rules (Rules) applicable to the Payroll Protection Program (PPP). This $349 Billion Small Business forgivable loan program was created in the Coronavirus, Aid, Relief and Economic Security Act (CARES Act).

Paycheck Protection Program Homepage

For more information on COVID-19, please visit the Centers for Disease Control and Prevention (CDC) website.

 

Questions, Contact us today.

 


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