PPP May Be Extended by 5 Weeks

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PPP May Be Extended by 5 Weeks

The June 30 deadline for applications for loans through the Paycheck Protection Program (PPP) may be extended. The U.S. Senate voted unanimously to extend the application period for the small business relief program until August 8. The measure must now be approved by the House of Representatives and signed by President Trump before it can take effect.

Launched in April, the Paycheck Protection Program provides forgivable loans that small businesses and other qualifying entities can use to cover payroll and other select costs. Of the PPP program's $660 billion in available funds, an estimated $130 billion remain available.

We will continue to monitor the situation as the bill proceeds through Congress. For more information about the PPP loan program or other COVID-19 related financial recovery ideas, please visit our COVID-19 page here , or call (781) 407-0300.

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As Coronavirus continues to impact our daily lives, including the way in which we conduct business, here you will find ongoing updates on Gray, Gray & Gray's response to the outbreak as well as important resources. At Gray, Gray & Gray, we remain committed to helping our clients and friends successfully manage their businesses and individual finances during this challenging time.

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