PPP Extension Act of 2021 ( Deadline for PPP application submission is May31)
Passed House (03/16/2021)
PPP Extension Act of 2021
This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), through June 30, 2021. Currently, the program is set to expire on March 31, 2021.
For the final 30 days of the program (i.e., from June 1 until June 30), the Small Business Administration may only process applications submitted prior to June 1, and it may not accept any new loan applications.
The bill excludes the budgetary effects of this bill from PAYGO scorecards under the Statutory Pay-As-You-Go Act of 2010 and from Senate PAYGO scorecards.
Listed below is the SBA website to start your PPP application.
SBA link here –> https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program