Over the weekend, the President signed into law legislation that extends the deadline to apply for the Paycheck Protection Program (PPP) until August 8. So far, the program has roughly $130 billion that has yet to be distributed.
This extension came as legislators prepare for negotiations in the next coronavirus stimulus package. Both sides of the aisle have indicated that a stimulus bill is needed but as to what the bill will contain is currently being debated. In May, the House passed a nearly $3 trillion bill along party lines, but it been declared dead on arrival by the Senate. Both the Senate and the House will resume their legislative work when they return from recess on July 20. Reports have indicated that a bill will likely be introduced in the next few weeks.
To view our resources on how to apply, what expenses qualify, and how to apply for forgiveness under the PPP please visit our Payment Protection Program page.