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PPP loan program deadline extended


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The U.S. Small Business Administration loan program — intended to help small businesses keep their employees and stay afloat during pandemic-related business restrictions — has been extended.

Small businesses now have until Aug. 8 to apply to the Paycheck Protection Program.

President Donald Trump signed the bill Saturday that the Senate passed June 30 and the House passed July 1, which will allow businesses to continue applying for the funding. The program application deadline had expired June 30, but the program still has $129.75 billion of allocated funding remaining.

According to information released by the SBA, about 5,457 lending organizations had made 4,576,388 loans for a total of $512.27 billion by June 12. In New Mexico, 20,991 lenders have made loans of more than $2.21 billion.

More information about the SBA loan program is available on the SBA website, www.sba.gov.

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