By Robert Jackson, CPA
Tuesday, March 30, 2021
The President signed the Paycheck Protection Program (PPP) extension bill on Monday, just three days before the program was set to expire. The bill now gives borrowers until May 31st to apply for a first or second draw PPP loan. While the bill technically extends the program until June 30th, the final 30 days (June 1st through June 30th) can only be used by the SBA to approve loan applications and no new loans can be accepted during that period (hence the May 31st deadline to apply).
This extension applies only to the filing of loan applications (not forgiveness applications).
Please contact your AGP Team Member with any questions.
Apple Growth Partners’ published material provides general coverage of its subject area and is presented to the reader for educational purposes based on the most current regulatory information available at the time it was written. All communications, whether written or oral should be reaffirmed prior to the submission of any application. All information in this published material and on our website is provided in good faith; however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, compliance with any law (federal, state or local) or professional standard or completeness of any information. We assume no responsibility to any recipient of this material to correct or update its contents for any reason, including changes in any law or professional standard. It is not intended to be audit, tax, accounting, advisory, consulting or investment advice. The information in this article is also not a substitute for legal advice and may not be suitable in a particular situation. Consult your attorney for legal advice.
Our articles, other published materials and website occasionally contain links to other web pages. Links to organizations and government agencies are provided as a convenience to our readers. The firm does not endorse and is not responsible for any third-party content that may be accessed from its website and does not recommend or endorse the use of any third-party’s services. The links are to be accessed at the user’s own risk, and the authors of this website make no representations or warranties about the content of these links.