Small businesses may apply for loans through May.
On Thursday, the Senate passed legislation extending the small-business program created last year by Congress. They voted 92-7 to extend the deadline for applying for the Paycheck Protection Program (PPP) which provides loans to small businesses impacted by the coronavirus pandemic, from March 31 to May 31.
In addition to extending the application deadline, the bill also gives the Small Business Administration until June 30 to process the applications. The House of Representatives passed the measure last week, and it now heads to President Biden’s desk for his expected signature.
As the Lord Leads, Pray with Us…
- For the president and members of Congress to seek God’s guidance as they enact legislation.
- For small businesses that are able to take advantage of the Paycheck Protection Program as the coronavirus pandemic winds down.
- For businesses that are still struggling to reopen, and the regulations that some states are imposing on reopening.
Sources: The Hill, NBC News
