Wednesday, October 20, 2021

Senate passes PPP extension; bill heads to president

The Senate today voted overwhelmingly today to pass a bill extending the Paycheck Protection Program.

The legislation, which was approved 92-7 by the Senate after the House already passed it, 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.