President Trump signs Paycheck Protection Program extension

U.S. & World

WASHINGTON (CNN Newsource) — President Donald Trump has signed legislation that extends the deadline for businesses to apply for a loan under the federal Paycheck Protection Program.

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Hours before it was set to expire on June 30th, Congress passed the bill sending it to Trump’s desk.

PPP was established in March as a part of the coronavirus relief bill.

Since then, more than 4.8 million small businesses applied for $520 billion in potentially forgivable loans.

Officials say there is $130 million left of PPP loans left.

The deadline to apply for the program is now August 8.

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