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