President Enacts PPP Application Deadline Extension

On July 4, President Donald Trump signed into law legislation extending the Paycheck Protection Program (PPP) application deadline from June 30, 2020 to August 8, 2020.

According to the Small Business Administration’s (SBA) PPP Report, reflecting approvals through June 30, 2020, the PPP had $138.4 billion in funding remaining available to potential borrowers. Congress agreed to extend the loan application deadline by approximately 5.5 weeks, through August 8, 2020 to continue to make the funds available to potential borrowers.

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