WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) issued the following statement after the Senate passed the Paycheck Protection Program (PPP) Extension Act of 2021. The legislation extends the deadline for small business owners to apply for PPP from March 31 to May 31, 2021 and provides an additional 30 days – through June 30 – for the Small Business Administration to process loans.
“Programs like the Paycheck Protection Program provide a lifeline to small businesses, churches, and charities as we recover from the pandemic. Passing this legislation extends the time to apply for these loans, helping just a little bit more,” said Dr. Cassidy.
PPP was designed under the CARES Act to provide funding resources to small businesses so that they can continue to pay employees and rent.