The PPP Extension Act of 2021 – Approved by both the House and the Senate, awaits President Biden’s Signature

Signature Pen

Yesterday, the Senate passed the PPP Extension Act of 2021, which had previously been approved by the House, sending the Bill on to President Biden for his expected signature. This bill extends the time businesses have to apply for a first or second PPP Small Business Loan until May 31st. The original date the program was scheduled to end was March 31st. This is welcome relief to hundreds of thousands of businesses who either have loans somewhere in the application process but not yet completed, or first- time applicants who because of the recent eligibility changes are now seeking assistance.

The PPP Extension Act of 2021 also gives the SBA an additional 30 days after May 31st to process loans. Again, this is good news, since the SBA has had significant delays in approving loans due to error codes and validation errors.

For more information or assistance in applying for a PPP loan, please contact your HM&M advisor.

 

Contact Us

 

For more information check out HM&M’s COVID-19 Resources page.

HM&M COVID-19 Resources

Latest Blog

U.S. Lawmakers Have Taken Another Step Toward Closing a Perceived Loophole

U.S. lawmakers have taken another step toward closing a perceived loophole that allows certain income earned by investment ...

People Meeting

Your Deadline: July 2022 – 401(K) PLAN RESTATEMENTS

Every six years, the Internal Revenue Service (IRS) requires employers with qualified, pre-approved plans to restate their plan ...

Bitcoin with a background of gold

Bitcoin, Altcoin, Dogecoin! Oh My. – Part 2

Blog Part 2 of 2 – Read Part 1 by clicking here How does the IRS treat cryptocurrency? ...

HM&M Updates

Our Frisco Office Has Moved

We have moved to our permanent location in Frisco located in Hall Park which is conveniently located at ...

Anat Shares Tax Insights at Park Cities Rotary Club Meeting

On Friday, July 9th, Anat Borodyansky spoke to Park Cities Rotary. She shared recent tax insights and important ...

2021 Promotions at HM&M

We are pleased to announce that effective July 15, 2021, Alyson Brands, Diana Cetares and Sirena Plitt have ...