PPP Loan Applicants: The New Deadline for Loan Applications is August 8th

Paycheck Protection Program Extension

The popular Paycheck Protection Program (the “PPP”) administered by the Small Business Administration has been extended for another five weeks, postponing the June 30th deadline for PPP loan applications until August 8th. Since the PPP began, more than 4.8 million small businesses received over $500 billion in potentially forgivable loans through the PPP and reports indicate that approximately $130 billion in PPP funds remain available to eligible small businesses. The remaining funds are available on a first-come, first-served basis, so businesses interested in applying for PPP funding should proceed with urgency.

If your business has yet to obtain funding through a PPP loan, the Business & Finance Department at Rosenn Jenkins & Greenwald LLP is ready to assist you in determining your eligibility for PPP funding and the amount your business is eligible to borrow. Please contact Department Chair Paul T. Rushton (prushton@rjglaw.com), Christyan A. Telech (ctelech@rjglaw.com), or one of the other attorneys in our Business & Finance Department to learn more about the PPP and the assistance we can provide with PPP loans and forgiveness applications.