PPP Deadline Extended for Applications
On Tuesday March 30, 2021, the Paycheck Protection Program (PPP) Extension Act of 2021 was signed into law. This new law extends the PPP application filing deadline from March 31, 2021, to May 31, 2021.
This allows potential PPP borrowers additional time to submit for both First and Second-Draw loan applications.This extension did not provide added funding for the PPP loans; however, the American Rescue Act (passed on March 11, 2021) did provide $7.25 billion in additional funding.
In February 2021, a revised formula to calculate loan eligibility was implemented. With this revision, sole proprietors, independent contractors and self-employed individuals are potentially eligible to apply.
With the recent reforms widening the number of eligible applicants, additional funding and the extension of the PPP application deadline, more businesses can take advantage of this assistance.
If you have not already applied for the First or Second-Draw PPP loan, contact us today to determine if you are eligible and ensure you comply with the requirements.
For more information visit our COVID-19 Guidance Center.
Tips of where to get your information about the virus
Indiana State Department of Health News ISDH.in.gov
World Health Organization WHO.int
Where to find local updates about the virus
Decatur County Health Department Facebook Page
Bartholomew County Health Department Facebook Page
Ripley County Health Department Facebook Page
Franklin County Health Department Facebook Page
North Vernon Plain Dealer & Sun Homepage
We are committed to serving clients with care, and we are confident we are taking precautionary measures to promote the health and safety of our staff and clients. We know that this is a stressful time for everyone, and we hope that you, your family and our community stay safe.
Please call us at 800-676-7567 if you have any questions