While the deadline to apply for a Paycheck Protection Program (PPP) loan has passed, an August 8th extension is en route to President Trump for his signature. Since the program’s implementation in April, the Small Business Administration (SBA) has paid out $520 billion in loans to nearly 4.9 million self-employed individuals and businesses. Jackson Walker Finance & Banking partners Lindsey Berwick and John Wittenberg discuss what is happening with the PPP and how the proposed legislation to extend the deadline may help small businesses that took out loans under $150,000. There’s a big push for this enactment, and it even has its own hashtag, #PPPFreedom.
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The music is by Eve Searls.
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