Burr & Forman

03.31.2021   |   Blog Articles, CARES Act/PPP, COVID-19, Federal Tax, Tax Law Insights

PPP Loan Application Date Extended by Congress

President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021 to May 31, 2021.  The new law gives qualifying businesses and individuals more time to apply for a PPP loan.

While this new law does not increase the amount of funding available for PPP loans, Congress did authorize $7.25 billion in additional PPP funding under the recent American Rescue Plan Act.


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