(Washington D.C.) Last week, members of Congress announced the Paycheck Protection Program (PPP) Extension Act. This critical bipartisan legislation will provide a commonsense extension to the Paycheck Protection Program and targeted relief for small businesses across the country that need it most. Missouri 3rd District Congressman Blaine Luetkemeyer says it was needed to help out the country’s small businesses that were “stuck” in the application process.
The Paycheck Protection Program was set to expire on March 31st. The bipartisan Paycheck Protection Program Extension Act would extend that deadline by two months and provide an additional 30 days for the U.S. Small Business Administration (SBA) to process loans submitted prior to the new May 31, 2021 deadline.