Senate Passes Bill to Extend PPP to May 31, Sends Bill to Biden for Signature
After defeating Republican amendments that would have prohibited anyone convicted of a felony related to a riot from receiving Paycheck Protection Program (PPP) loans and an amendment establishing limitations on the Small Business Administration creating new prioritization categories for processing applications, the Senate voted to pass the Paycheck Protection Program Extension Act (H.R. 1799) by a vote of 92-7.
SWACCA has been working over the last few weeks to pass this important bill that will extend the PPP through May 31 and allow the Small Business Administration to continue to process loan applications that were timely received for 30 days after the May 31 deadline. The bill now heads to President Biden for his signature.
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