The U.S. Senate extended the deadline for businesses to apply for coronavirus aid under the Paycheck Protection Program (PPP).
“Thanks to Senate Democrats, the PPP program has been improved to provide as lifeline to more small businesses struggling to stay afloat during these turbulent times,” Senate Minority Leader Chuck Schumer said.
“And tonight Senate Democrats have ensured that small businesses can continue to have the opportunity to apply for these loans that can mean the difference between staying open and closing for good.”
The PPP was designed to help small businesses make it through the coronavirus pandemic and help employees retain their workers.
While those companies were shamed into returning the money, it led to a flood of companies, states, and others giving out small business loans, especially to women- and minority-owned small businesses.