Here Are Your Articles for Tuesday, April 20, 2021
Is this email not displaying correctly?
View it in your browser .
Home Services Our Firm Specialties Contact Us
Share Save

Popular PPP Loan Program Gets Extension


With wide bipartisan support, Congress has approved the "PPP Extension Act of 2021," which extends the Payroll Protection Program. It had been scheduled to expire on March 31, 2021, but the application deadline is now May 31. The act further gives the SBA another month, until June 30, to process claims made by the new deadline. The act changes only the deadline — Congress approved no other modifications to the program.

According to official SBA data, by mid-March, it had approved more than 8 million loans through more than 5,000 lenders, totaling about $700 billion. About $186 billion of those loans were forgiven in 2020.

The American Institute of CPAs lobbied for the extension, saying that the "PPP has been the saving grace of the economic challenges brought on by the COVID-19 pandemic." The National Federation of Independent Business also strongly supported the bill, saying, "Today's passage to extend the authorization of the PPP loan program is good news for those owners who can take advantage of the extra time."

Businesses owners who are eligible, or who have an application in process, should visit the SBA site for more details or contact a financial professional.



Share Save

Your Comments

Coulter & Justus, P.C.
Coulter & Justus, PC
(865) 637-4161
9717 Cogdill Rd, Suite 201
Knoxville, TN 37932
Friend Me on Facebook
Connect with me on LinkedIn
Saved Articles
Comments and Feedback
Refer A Friend
Your Privacy
Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
Powered by
Copyright © IndustryNewsletters All rights reserved.

This email was sent to:

Mailing address: 9717 Cogdill Rd, Suite 201, Knoxville, TN 37932