Congress has joined the Senate in extending the Paycheck Protection Program for small businesses.
The bill now goes to President Trump for signature. The extension is intended to provide more time for small businesses to apply for the approximately $129 billion in PPP funding remaining.
The loans are available to small businesses that were in operation on Feb. 15 with 500 or fewer employees, including not-for-profits, veterans’ organizations, Tribal concerns, self-employed individuals, sole proprietorships and independent contractors. Businesses with more than 500 employees in certain industries also can apply for loans.