PPP Borrowing Period to be Extended
The deadline to apply for potentially forgivable loans as part of the Paycheck Protection Program expired this week on June 30, but with around $130 billion remaining in untapped funds, the House and Senate passed a bill that President Trump is expected to sign, extending the deadline instead to August 8.
To be clear, a borrower faces two applications: One to request the loan and a subsequent one to request forgiveness of that loan. This new bill relates to the former by extending the deadline to apply for new loans.
For more information or a discussion on how this may impact you, please contact your BNN advisor at 800.244.7444.
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