Enacted at the end of 2020, the Consolidated Appropriations Act, 2021, allocates $325 billion to small businesses, nonprofits and venues hit hard by the COVID-19 pandemic. Of that amount, approximately $284 billion goes toward the Paycheck Protection Program. The previous round of PPP funding ended earlier in 2020.
The PPP loan program, slated to end on June 30, will now accept applications until Aug. 8, thanks to a last-minute bill passed by Congress.
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