PPP Loan Program Deadline Extended to August 8th

The President signed a bill into law extending the deadline to apply for a loan through the Paycheck Protection Program (PPP) to August 8th. The original deadline to apply for a PPP loan was June 30th. However, it was discovered that roughly $130 billion still remained in the loan program (Congress originally allocated $660 billion to the program). Both chambers of Congress approved the PPP loan program extension unanimously and the President signed it into law. The sponsors of the PPP declared they want to re-purpose the program to better serve the challenges businesses are facing now, according to NPR.org. "As the...