PPP Application Extended to May 31
The Senate on March 25 passed the PPP Extension Act of 2021, moving the deadline of the Paycheck Protection Program to May 31 from March 31.
The extensions give Hawaii small business owners more time to prepare their applications while banks will have more time to process more of the much-needed loan grants.
“Hawaii small businesses will now have two more months to apply for PPP loans,” said Senator Brian Schatz (D-Hawaii).
“This will give our local businesses more time to get help and access billions of dollars in new federal relief funding.”
So far in 2021, small businesses and non-profits in Hawaii have received more than $1.1 billion in PPP loans. While in 2020, Hawaii’s small businesses and non-profits received $2.5 billion.
For more information on the PPP loan application process, visit schatz.senate.gov/Coronavirus/Small-Businesses.