S. 723 · 117th Congress
PPP Extension Act of 2021
- Stage
- In committee
- Sponsor
- Susan Collins
- Introduced
- 2021-03-11
- Latest action
- 2021-03-24 · Committee on Small Business and Entrepreneurship. Hearings held.
Summary
PPP Extension Act of 2021
This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), through June 30, 2021. Currently, the program is set to expire on March 31, 2021.
For the final 30 days of the program (i.e., from June 1 until June 30), the Small Business Administration may only process applications submitted prior to June 1, and it may not accept any new loan applications.