(STAFF REPORTS/Chewelah Independent)
The Paycheck Protection Program (PPP) will continue until August 8 after President Trump extended the emergency federal loan program another five weeks to buy Congress time to figure out the next round of stimulus measures during the COVID-19 pandemic, Forbes is reporting. The PPP was originally slated to close on Tuesday but the Senate was able to approve new legislation on Tuesday evening and the U.S. House approved the legislation on Wednesday.
There is still $130 billion in unspent money from the $670 billion program. So far, 4.8 million PPP loans have been approved. More