PPP Loan Extension of Time passed by Congress


The Payroll Protection Program loans have been a cornerstone of small business relief. The program was to expire for applications not submitted by midnight on June 30. However, in the past two days BOTH houses of Congress have passed a bill that the President is expected to sign, extending the deadline until August 8.

If your business has not received a PPP loan and may qualify, you should consider applying to one of the banks that have remaining funding and are welcoming new small business applications from non-current customers. And yes, those banks still exist.

If you have questions, contact your BSLR accounting professional.

Read the article at the Journal of Accountancy website here.