A new law extends the application for applying for a Paycheck Protection Program loan until August 8. Get the most up-to-date information about common questions on PPP loans and forgiveness.

For Carlos Ortez, 58, owner of Un Solo Sol in Los Angeles, PPP’s requirement that 60% of the loan be used for payroll fails to consider the other bills that have to be paid to keep his ...

The PPP Extension Act of 2021 also gives the SBA an additional 30 days beyond May 31 to process those loans. The House-passed measure now goes to President Joe Biden for his signature.

As the second round of the Paycheck Protection Program (PPP) winds down on May 31, small business borrowers who have already secured their funding and spent their loan proceeds on covered expenses ...

The first round of Paycheck Protection Program funding ran out in days, but the second pot of money has more than $140 billion left after a month. Some business owners decided the PPP wasn't for them.

The legislation also streamlined PPP forgiveness for loans under $150,000 and laid into law that any business expenses paid for with PPP funds were still tax-deductible.

To him, that was a sign that PPP money is leaking away — likely, he believes, due to loopholes in the program allowing firms not traditionally thought of as small businesses to access PPP loans.

Businesses that got a PPP loan when the program first went into effect now may apply for a “second draw,” so long as they’re not a public company, don’t employ more than 300 people, have ...