A bill that will extend the popular Paycheck Protection Program (PPP) for an additional two months was passed by the U.S. Senate and now awaits the President’s signature. Companies will now have until the end of May to apply for a loan that needs to be used for approved costs, such as salaries and other business related expenses. There is an estimated $79 billion remaining to be distributed according to the Small Business Administration.
We will let you know when the bill becomes law.