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.
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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