President Biden has signed into law the PPP Extension Act of 2021, which gives businesses and nonprofits more time to apply for a second draw or first draw Paycheck Protection Program (PPP) loan.
Previously set to close today, March 31, the PPP application portal will now remain open through May 31, 2021 . In addition, the Act also extends the PPP authorization period through June 30, 2021, giving the SBA more time to approve qualified applicants.
Read more about the latest PPP eligibility requirements from Grassi’s Emergency Loan consultants.
Please contact your Grassi advisor or our Crisis Response & Recovery hotline at 212.223.6216 or email@example.com to learn more about taking advantage of this extra time to secure the relief your organization deserves.