On March 25, the Senate voted to extend the Small Business Administration’s Paycheck Protection Program (PPP) just a week before it was set to expire. President Joe Biden signed the bill into law on March 30.
Senators voted 92 to 7 to pass the House PPP Extension Act of 2021 (H.R.1799), which extends the program to May 31 instead of the current March 31 deadline and gives the SBA another 30 days to process loans.
The White House previously indicated its support for extending the program to support small businesses.
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