SENATE PASSES BILL TO EXTEND PPP APPLICATION DEADLINE FOR SMALL BUSINESSESThe deadline for small businesses to apply for coronavirus relief funds expired Tuesday, but the legislation would reopen the application process until Aug. 8. During the pandemic, Congress allocated $659 billion to small businesses in PPP loans that could be converted to grants if they met certain requirements. As of 5 pm Tuesday, the Small Business Administration had approved 4,866,647 loans worth roughly $521 billion across 5,459 lenders. GOVERNMENT EASES PPP LOAN TERMS TO AID SMALL BUSINESS: WHAT TO KNOWThe House passed the loan application extension Wednesday in a matter of minutes. “It’s simple: small businesses deserve access to the remaining funds in the Paycheck Protection Program.

Source: Fox News July 01, 2020 21:42 UTC