A bill to move the Paycheck Protection Program (PPP) application deadline from March 31 to May 31 won approval in the U.S. Senate on Thursday, several days before the deadline was set to expire.
The legislation now reverts to President Joe Biden for his expected signature.
The legislature extends the filing deadline for PPP applications by 60 days and provides an additional 30 days for the SBA to finish processing applications received by May 31.
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