Home lawmakers unanimously passed the extension significantly less than a day after the method expired, and PPP will now remain open up to applications via August 8.
More than 4.8 million compact organization house owners have tapped a lot more than $520 billion in most likely forgivable financial loans as a result of the plan.
But desire in the software waned in new weeks, as shifting procedures and the lack of ability of debtors to appear back again for a second bank loan constrained the quantity of little corporations ready to go via the application method.
Negotiations are underway among lawmakers of how to get the scaled-down, most difficult-strike companies to faucet into a next round of assist.
This tale has been current with supplemental specifics.
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