PPP Application deadline extended to August 8

Business owners have another five weeks to apply for federal pandemic relief funds through the Paycheck Protection Program after President Trump approved a five-week extension.  The extension to the Payroll Protection Program (PPP), which was launched in April to keep Americans on company payrolls and off unemployment assistance, gives business owners until August 8 to apply for funding assistance.

Earlier, changes made to the PPP allowed borrows to document 24 weeks of expenses when calculating loan forgiveness, as opposed to the 8 weeks the PPP originally offered.  For essential information regarding current PPP loan forgiveness rules, read here.