Lawmakers considering extending deadline to apply for Paycheck Protection Program

CNN– Lawmakers are looking into extending a deadline for businesses. The current deadline for small businesses to apply for a loan from the Paycheck Protection Program is March 31.

Lawmakers approved another $7 billion for the program that was included in the big COVID-19 relief bill, but representatives say the additional funds are not much help if the March deadline is not pushed. There is now bipartisan support for legislation that would extend the program to May 31, and offer an additional 30 day period.