President Biden signs Paycheck Protection Program extension

Program extended through May 31 to help small businesses keep workers on payroll.

President Joe Biden signed the PPP Extension Act of 2021 into law March 30, extending the Paycheck Protection Program an additional two months to May 31, 2021, and then providing an additional 30-day period for the Small Business Administration to process applications that are still pending.

“Today, President Biden sent another strong message to America’s more than 30 million small business owners negatively impacted by the pandemic: help is here,” Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, said. “By signing the PPP Extension Act of 2021 and the American Rescue Plan Act into law, the president is providing additional critical relief to the smallest of the small businesses – the mom-and-pop shops that line our Main Streets and keep our local and regional economies going.”

More than 8.2 million PPP loans have provided struggling small businesses with the relief they need to keep workers employed and make ends meets during this pandemic. More information on the program can be found at: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program