Late Tuesday June 30, 2020, just a few hours before the expiration of Paycheck Protection Program (PPP), the Senate voted to extend the PPP five more weeks. The move was made to allow eligible small businesses that have not applied or been denied a loan under the PPP more time to claim the remaining $129 million in the program.

Currently, the Small Businesses Administration (SBA) which oversees the PPP stopped taking applications as of midnight Tuesday. However, if the House and President sign-off on the extension the PPP will be reopened and remain available until August 8, 2020.

We will continue to update you as we learn more.

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Photo of Eric Stevenson Eric Stevenson

Eric Z. Stevenson is a member of Stark & Stark’s Business & Corporate Practice Group. Mr. Stevenson concentrates his practice in the representation of start-up companies, investment companies, and non-profit organizations on a variety of issues, including corporate formation, financing, franchising, licensing, acquisitions…

Eric Z. Stevenson is a member of Stark & Stark’s Business & Corporate Practice Group. Mr. Stevenson concentrates his practice in the representation of start-up companies, investment companies, and non-profit organizations on a variety of issues, including corporate formation, financing, franchising, licensing, acquisitions, executive compensation, equity compensation plans, employment agreements, real estate, governance, and intellectual property law.

Photo of Rachel Lilienthal Stark Rachel Lilienthal Stark

Rachel Lilienthal Stark is a member of the Banking & Financial Services, Business & Corporate, Intellectual Property and Non-Profit Organization Groups. Ms. Stark concentrates her practice in the representation of start-up and emerging companies and non-profit organizations on a variety of issues including…

Rachel Lilienthal Stark is a member of the Banking & Financial Services, Business & Corporate, Intellectual Property and Non-Profit Organization Groups. Ms. Stark concentrates her practice in the representation of start-up and emerging companies and non-profit organizations on a variety of issues including corporate formation, financing, franchising, licensing, acquisitions, executive compensation, equity compensation plans, employment agreements, real estate and intellectual property law. Ms. Stark also represents lenders in commercial loan transactions.

Photo of Dolores R. Kelley Dolores R. Kelley

Dolores R. Kelley is a Shareholder and member of Stark & Stark’s Business & Corporate, Real Estate, Zoning & Land Use and Beer & Spirits Groups. Ms. Kelley handles a wide range of matters for the real estate industry, including commercial transactions, leasing…

Dolores R. Kelley is a Shareholder and member of Stark & Stark’s Business & Corporate, Real Estate, Zoning & Land Use and Beer & Spirits Groups. Ms. Kelley handles a wide range of matters for the real estate industry, including commercial transactions, leasing, condominium and homeowner association formation, and representation of developers and landowners in land use applications. In addition, Ms. Kelley represents clients in the beer, wine, and spirits industries on a variety of issues including corporate formation, financing, licensing leasing, acquisitions, and intellectual property law.