Trump extends PPP deadline with $130B left in small business fund

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President Trump signed a bill extending the Paycheck Protection Program on Saturday.

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The law reauthorizes lending to small businesses under the PPP through Aug. 8. It also separates the authorized limits for commitments under the PPP from other Small Business Administration loan programs.

President Trump speaks at Mount Rushmore National Memorial, on Friday, July 3, 2020. (AP Photo/Alex Brandon)

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The deadline for small business owners to apply for a PPP loan had been June 30, but more than $134 billion for the coronavirus pandemic stimulus program was left afterward, according to the SBA.

As of June 27, the administration had given out more than 4.7 million forgivable loans totaling $518 billion through the program.

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Check back for more on this developing story.

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