Trump Signs Small Business Loan Program Extension

President Trump, pictured June 5, signs a bill extending the time period for businesses to use funds from the Paycheck Protection Program. On Saturday he signed a bill extending the deadline to apply for the program.President Trump, pictured June 5, signs a bill extending the time period for businesses to use funds from the Paycheck Protection Program. On Saturday he signed a bill extending the deadline to apply for the program.

The original deadline to apply for the PPP was this past Tuesday night. But $130 billion still remained in the fund, out of $660 billion allocated. Both houses of Congress approved the extension unanimously earlier this week. With Trump's signature Saturday, businesses will now have until Aug. 8 to apply for the assistance.

The PPP lets businesses get direct government subsidies for payroll, rent and other costs. The subsidies come as federal loans, but those loans can be forgiven if businesses use at least 60% of the funds for payroll. The program has so far doled out about $520 billion in loans to almost 5 million small businesses across the country. The loans were meant to let businesses cover about two and a half months of typical costs.

The program's sponsors say they want to repurpose the program to better serve the challenges businesses are facing now, several months into the pandemic."As the scope of the financial damage done to small businesses by the pandemic and resulting lockdowns has grown, it has become clear that longer-term support is necessary," Florida Sen. Marco Rubio said in aRubio said he wants to see additional support for"our smallest businesses, especially in our underserved communities.

Screw small business. What about all of us without jobs? Oh that's right, we don't count. We should be kissing ass for the $1200 one time check. This country sucks

No more $'s unless it's to households.

This was the grant Ted. Cruz’s barber fraudulently applied for. She should’ve gone to jail for fraud.

Trump sucks

Thank you, HouseDemocrats

Trump, are you doing this to get votes or are you sincere? Hope it’s the latter. We really want you to be a good leader. We really want America to finally realize true greatness.

Trump is the most obvious reason why an Artificial Intelligence should govern humanity.

Trump TCB

Was Eric late filing for his charity golf scam as a small business?

Wow look at this leftist propaganda GARBAGE maga livenotinfear treadonmedaddy nomasksimfragile

Thanks for the FactsBasedJournalism!

Can’t wait to see which $2 billion dollar “small businesses” are gonna suck up the rest...

I don’t get it. Why no negative slant?

Gonna need to sign that extension a couple more times if you continue to refuse to mandate masks.

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