PPP program extended through May 31
SBA allowed another 30 days past that to ensure pending loans are processed
The Paycheck Protection Program has been extended through the end of May, to be followed by an additional 30-day period to allow for processing of still-pending applications.
Learn more about applying for a first PPP loan and a second PPP loan.
In addition to existing traditional Small SBA funding programs, the CARES Act and subsequent legislation established several new temporary programs to address the COVID-19 outbreak.
Click here to view the options
A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.