The PPP Extension act was signed into law, effectively extending the Paycheck Protection Program (PPP) until May 31, 2021.
The PPP Extension Act of 2021 extends the current program by an additional two months and provides an additional 30 days for the SBA to process pending applications.
The PPP is an SBA backed loan. Its purpose is to help businesses keep their employees employed during the ongoing pandemic.
For more information about the Paycheck Protection Program please visit the SBA website.