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Paycheck Protection Program Loan Deadline Extended

BRYAN JOHNSON
MARCH 25, 2021


For those keeping track, the Paycheck Protection Program was set to expire next week on March 31. But with the pending loan deadline fast approaching, the U.S. Senate passed the PPP Extension Act of 2021, which extends the program to May 31.  

Michelman & Robinson, LLP expects President Joe Biden to sign the legislation into law imminently. The extension is of particular importance to those impacted by recent changes to the PPP loan process put into place by the Biden administration (as reported here); namely, minority- and women-owned businesses and sole proprietors. Many of these entities missed out on more sizeable loans because of confusion regarding timing of loan applications.

Of note, the $1.9 trillion American Rescue Plan includes an additional $7 billion to expand the PPP along with other pro-small business provisions. As always, should you have any questions about the PPP, do not hesitate to reach to M&R’s COVID-19 team.


We are working diligently to keep our clients up to date on coronavirus-related developments. Nevertheless, these developments are changing daily and, in some cases even hourly, so it is important that you make sure you are dealing with the most current information. That being said, this alert is not offered, and should not be relied on, as legal advice. You should consult an attorney for guidance and counsel regarding any specific concern or situation.