Congress Approves Five-Week Extension to Apply for the PPP

Effective immediately, Congress has approved a five-week extension for the application window for the Paycheck Protection Program, which was initially set to expire on June 30, 2020.

Applicants now have until August 8, 2020 to apply.

With the prior deadline, many lenders elected to stop taking applications in advance of the deadline to ensure their ability to process all applications on time. As such, we recommend interested parties act promptly by applying well in advance of the new deadline through their preferred lender.

We will continue to update our clients on any further information regarding the Paycheck Protection Program. For further assistance, please contact your regular Katz Teller attorney, or John Gierl at jgierl@katzteller.com or Gabriel Kurcab at gkurcab@katzteller.com.

As always, follow us on LinkedIn and Twitter for the latest updates and breaking news.