Sen. Ossoff pushing to extend Paycheck Protection Program for Small Businesses deadline
GEORGIA (WCTV) - Georgia Senator Jon Ossoff is now pushing to extend the Paycheck Protection Program for Small Businesses’ deadline from March 31 to the end of May, according to a press release sent Friday.
The PPP Extension Act of 2021, which was introduced in the U.S. House by Georgia Congresswoman Carolyn Bourdeaux (GA-07) and passed by a large bipartisan majority this past week, would extend the deadline for small businesses to apply for a PPP loan until May 31.
Additionally, the act would also give the Small Business Administration until the end of June to process and approve applications.
The PPP program was first passed last year as part of the CARES Act. Since the PPP program was passed in 2020 as part of the CARES Act, small businesses in Georgia have received more than 260,000 loans to the tune of nearly $19 billion, according to the press release posted Friday.
By the end of the month, the program is estimated to have between $25 to $65 billion remaining.
“There’s a real opportunity for bipartisanship here, and I’ve been having great conversations with colleagues on both sides of the aisle about how Georgia’s small businesses really need this support,” Sen. Ossoff said. “I hope that we can move this through Congress on a bipartisan basis within the next few days, extending support for small businesses and building on the work we’ve already done with this stimulus bill.”
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