WASHINGTON, DC – On June 30, hours before the application deadline for the $669 billion Paycheck Protection Program (PPP) was set to expire, leaving about $129 billion unclaimed, the House of Representatives joined the Senate in unanimously approving a deadline extension to Aug. 8. President Trump signed the bill into law July 4.
The PPP, announced in early April, provides loans to small businesses that can be forgiven if used to cover payroll and other specified business expenses.
