On Wednesday, July 1, the House passed Senate Bill S.4416 by unanimous consent. The bill, which extends the timeline to apply for PPP funds through August 8, 2020, is headed to the President’s desk for signature.
Once signed into law, any eligible businesses who have not yet received approval for a PPP loan will have an additional 5 weeks to apply for a loan. As of July 1, 2020, there are over $130 billion in appropriated funds remaining.
If you think you may qualify for a PPP loan but have not yet received one, please reach out to your PBMares advisor or our Quick Response Team at firstname.lastname@example.org
We’re watching negotiations surrounding a potential “Phase 4” legislation; we’ll provide details as the legislation takes shape.