On June 30, with hours remaining before the Paycheck Protection Program application was set to close, the U.S. Senate passed a measure to extend the program deadline to August 8. The House of Representatives approved the extension on July 1 and the President is expected to sign off on the measure.
The application is currently closed as of July 1, but once the extension is approved in full, the application will reopen. There are still $130 billion remaining in unallocated PPP funds.
If you are interested in applying for a loan, work with your lender to prepare your application so you can submit it as soon as the application reopens.
You can view the Small Business Administration PPP application guidelines here.
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