Legislative update: Extension of PPP loan application deadline enacted (COVID-19)
Extension of PPP loan application deadline enacted
The president on July 4, 2020, signed into law S. 4116—legislation that extends the deadline for applying for loans under the Paycheck Protection Program to August 8, 2020.
The Paycheck Protection Program (PPP) was enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (Pub. L. No. 116-136), to provide lending to both small and large businesses. The PPP loan application deadline previously was June 30, 2020.
Read text of the legislation: S. 4116
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