Congress Extends PPP to Aug. 8; $130B Unspent

The House and Senate passed a bill that would extend the deadline for applying for the Small Business Administration's Paycheck Protection Program (PPP) loans, and the President is expected to sign it shortly.

The bill was introduced by Senate Small Business Committee Ranking Member Sen. Ben Cardin (D-Md.) and would extend the application deadline to Aug. 8.

Though the PPP still has approximately $130 billion in unspent funds, the program expired June 30 at midnight.

Find additional information on PPP loans here.