Sen. Ossoff co-sponsored the PPP Extension Act of 2021
Bill heads to President Biden’s desk to extend deadline until May 31
PPP program was set to expire at the end of the month
Washington, D.C. — Today, the United States Senate passed legislation Georgia U.S. Senator Jon Ossoff co-sponsored to extend the Paycheck Protection Program deadline to the end of May. Without action on this legislation, the program would have expired in just days.
The PPP Extension Act of 2021 passed the U.S. House last week and is now expected to be signed into law by President Biden before the end of the month.
“Passage of this bill is a huge victory for Georgia’s small businesses, who can now apply for PPP loans through May,” Senator Ossoff said. “Any small businesses with questions about accessing this aid should contact my office.”
The legislation extends the deadline for small businesses to apply for a PPP loan from March 31 until May 31, and will give the Small Business Administration until the end of June to process and approve applications.
The PPP program was first passed last year as part of the CARES Act. Since then, small businesses in Georgia have received more than 260,000 loans to the tune of nearly $19 billion, allowing them to stay afloat during the pandemic.
By the end of the month, the program is estimated to have between $25 to $65 billion remaining.
Small businesses can continue to apply for PPP loans, here.
Georgians needing assistance on PPP loans or any other issues can contact Senator Ossoff’s office by visiting ossoff.senate.gov or calling either 470-786-7800 or 202-224-3521.
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