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PPP Deadline Extended To May 31st

President Biden Signs PPP Extention Act

Attention Small Business Owners: President Biden just signed the PPP Extension Act of 2021 which extends the Paycheck Protection Program an additional two months until May 31st. The Act also provides an additional 30-days for the SBA to process pending applications.

Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, states: “More than 8.2 million PPP loans have provided struggling small businesses with the relief they need to keep workers employed and make ends meets during this pandemic. The SBA remains dedicated to reaching the heart and soul of the nation’s urban, rural, and low-income communities – the smallest businesses – and removing barriers to access this vital relief.” 

You now have until May 31st to apply for your first or second round of PPP funding. For more information, see the SBA’s full release here.

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Are You Prepared for a PPP Loan Audit?

By patti@sbacil.org | March 9, 2021

Are You Prepared for a PPP Loan Audit? Keeping records related to the PPP funding is two-pronged.  First, the organization had to submit the application and supporting records for the PPP application.  Second, records must be maintained to prove how those accepted funds were spent to sustain the business or the purpose of the funding.…

Rebuilding Starts Now

By patti@sbacil.org | March 8, 2021

REGISTER Rebuilding Starts Now – Register Today! Please translate this page to the language of your choice. Supporters Fifth Third Bank Saul Ewing Arnstein Lehr Inland Bank Ntiva UPS Daily Herald Tandem HR Interprenet Signature Bank Lexitas Empower Korey Richardson Open One Solutions Freeborn and Peters

PANDEMIC MAKES STUDENT DEBT RELIEF CRUCIAL

By mrevis@sbacil.org | March 6, 2021

Pandemic Makes Student Debt Relief Crucial Over 45 million Americans collectively owe an approximate $1.6 trillion in student loans. This exorbitant debt stifles our economy and impedes the mobility of young Americans who thought going to college would provide financial security. The economic impact of the pandemic has put Americans further into debt and has…

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