The Senate passed a five-week extension of the Paycheck Protection Program (PPP) yesterday only hours before the application deadline.
The extension is intended to provide more time for small businesses to apply for the approximately $129 billion in PPP funding remaining. The measure will have to pass in the House and be signed by President Trump before the new deadline of August 8th would take effect.
The Small Business Administration (SBA) stopped accepting loan applications at midnight.
KRS professionals are available and happy to assist with loan and grant applications. Visit the PPP FAQs page or KRS’ Coronavirus Resources Page for additional information. Please contact us if you have any questions, concerns, or need advisement during this unprecedented time.