Blog

March 30, 2021

Dear GA 11,

This week, Congress extended the deadline for small businesses to apply for the Paycheck Protection Program (PPP) through May 31, 2021. The extension will also include a 30-day period for the Small Business Administration (SBA) to process applications that are still pending.

As of January 13, the PPP reopened for small businesses to apply for a second round of relief. Eligible businesses are those that have exhausted their first PPP loan, have 300 or fewer employees, and have experienced at least a 25% revenue loss.

And, as of January 15, all PPP lenders with $1 billion or less in assets were eligible to issue first and second round loans; and, as of January 19, all lenders regardless of asset size are permitted to issue PPP loans.

For more information from the Small Business Administration on how to apply, please:

CLICK HERE

PPP was created under the CARES Act economic stimulus package passed by Congress in late March, 2020, and replenished with a supplemental bill passed at the end of the 116th Congress. This program is designed to provide cash-flow to small businesses impacted by the COVID-19 health crisis.


I will continue to update businesses in Georgia’s 11th Congressional District on important federal business-related response efforts due to COVID-19 as they become available. Please feel free to contact my office if you have any questions or concerns, and be sure to sign up for my regular weekly email newsletter through my website at www.loudermilk.house.gov.

Sincerely,

Barry Loudermilk
Member of Congress