Is there a deadline to apply for PPP?
Following approval by the Senate and House of Representatives, President Trump signed legislation July 4, 2020, extending the deadline to apply for a Paycheck Protection Program Loan through Aug.
The original deadline to apply was June 30, 2020..
Is the PPP loan extended?
H), Jacky Rosen (D-Nev.), and Susan Collins (R-Maine) successfully passed legislation to extend the U.S. Small Business Administration’s (SBA’s) authority to approve Paycheck Protection Program (PPP) loans through August 8, 2020.
How long do you have to apply for the PPP loan?
The SBA has not set a deadline to apply for forgiveness, but you have 10 months after the end of your covered period before you’ll be required to start making monthly payments.
Can I still apply for the PPP?
Notice: Paycheck Protection Program closed August 8, 2020 Current law dictates that the Paycheck Protection Program (PPP) close at the end of August 8, 2020. As such, SBA is no longer accepting PPP applications from participating lenders.
Is PPP still available September 2020?
A: Yes. The last day on which a lender can obtain an SBA loan number for a PPP loan is August 8, 2020.
When can I apply for PPP forgiveness?
Borrowers may submit a loan forgiveness application any time before the maturity date of the loan, which is either two or five years from loan origination.