- Paycheck Protection Program (PPP) loan deadline extended to Aug. 8
- $130 billion remains available to applicants after expiration of previous deadline
- On July 4, President Donald Trump extended the deadline for PPP loan applications for more than another month
- Loans can be completely forgiven if spent within certain timeframe on approved expenses
Businesses who missed the previous deadline for the Paycheck Protection Program (PPP) now have another shot at applying for relief funding.
More than $130 billion remained available after June 30, the previous deadline to submit a PPP application. On July 4, President Donald Trump extended the deadline to Aug. 8.
PPP loans can be completely forgiven if funds are spent within a certain timeframe and limited to certain expenses. The Small Business Administration says more than $521 billion has been distributed through the program, and most loans have been for $50,000 or less.