Congress Extends PPP Loan Program

July 2, 2020

Following action by the U.S. Senate earlier this week, the U.S. House last night passed legislation by unanimous consent to extend the application period for the Paycheck Protection Program (PPP) through August 8. The measure, which allows eligible applicants to access the approximately $130 billion remaining in PPP funds, now heads to the President for his signature. The loan program, which has been a financial lifeline for eligible hospitals, expired at midnight Tuesday.