Updated Paycheck Protection Program (PPP) guidance recently issued by Treasury and the Small Business Administration (SBA) addresses PPP loan maturity dates for all borrowers as well as maximum loan amounts for certain self-employed individuals.
The updates reflect the Paycheck Protection Program Flexibility Act, which became law June 5 and made significant changes to the PPP.
June 30 is the final deadline for applying for a PPP loan, but borrowers need to move quickly because lenders will need time to try to get applications into the SBA system before midnight Tuesday.