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Trump Signs 5-Week PPP Extension With Fiscal Cliff Looming! The end is nigh!

 
Don Draper from Nantucket
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07/04/2020 02:33 PM

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Trump Signs 5-Week PPP Extension With Fiscal Cliff Looming! The end is nigh!
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The White House released a statement Saturday morning indicating President Trump has signed a bill extending the Paycheck Protection Program (PPP) until August 8.

On Saturday, July 4, 2020, the president signed into law: S. 4116, which (1) reauthorizes lending under the Paycheck Protection Program (PPP) through August 8, 2020; and (2) separates the authorized limits for commitments under the PPP from other Small Business Administration loan programs. - the statement read

PPP is designed to support businesses impacted by coronavirus-lockdowns, which had expired last Tuesday with $130 billion in leftover funds.
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Don Draper from Nantucket  (OP)

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07/04/2020 02:35 PM

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Re: Trump Signs 5-Week PPP Extension With Fiscal Cliff Looming! The end is nigh!
The bill provides the president with five additional weeks, while Congress is set to debate the next round of stimulus.

The Small Business Administration (SBA) recently said the program approved over 4.8 million emergency loans to millions of small businesses.
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