Last night, the Senate approved by a bi-partisan vote a bill extending the Paycheck Protection Program. The legislation, which the House already passed, now goes to President Biden for signing. The Paycheck Protection Program Extension Act would allow loan applications to the program—currently set to expire on March 31—for two more months and give the Small Business Administration 30 additional days to process loan applications made by the new May 31 deadline.
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Authors: Mark Brasee