PPP application period extended through May

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President Joe Biden signed the PPP Extension Act of 2021 into law, extending the Paycheck Protection Program an additional two months to May 31. An additional 30-day period has also been provided for the Small Business Administration to process applications that are pending.

The PPP loan is designed to provide a direct incentive for small businesses to keep their employees on payroll. Borrowers may be eligible for PPP loan forgiveness.

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