COVID-19: President Trump extends PPP loan application deadline

On July 4, 2020, President Trump signed a bill (S.4116) into law that extends the PPP loan application deadline from June 30 to August 8, 2020. The full legislative text of the bill is available here.

At the same time, the Small Business Administration (SBA) has released data regarding the nearly 4.9 million loans that have been granted to businesses under the PPP, which can be accessed here. When reviewing the data, for loans of $150,000 and above, details are arranged by state, borrower’s name, and range of amount borrowed (e.g., $5 million to $10 million). Names of businesses that borrowed less than $150,000 have not been disclosed. However, specific loan amounts are listed with industry codes, ZIP codes, number of jobs supported, and other information.

 

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Caroprese & Company is a certified public accounting firm that provides innovative and strategic services to a diverse client base of individuals, families, small and medium size businesses, government entities, non-profits and multi-national corporations. Our dynamic professionals perform at a high intensity and are laser focused on providing excellence to our global clientele.

 

CONTACTING CAROPRESE & COMPANY

This publication is provided by Caroprese & Company as a service to its clients and colleagues.  The information and content included in this publication should not be construed as technical advice.  Questions regarding any matters discussed in this publication should be directed to Brandon Caroprese whose contact information is listed below:

Brandon Caroprese, CPA, MST
Tel. (973)-475-8090
Email. bcaroprese@caroprese.co

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