Click Here to Learn About the Employee Retention Credit and How You May Quality.

Application Deadline Extended for Paycheck Protection Program (PPP)

Application Deadline Extended for Paycheck Protection Program (PPP)

Home » Blog » Application Deadline Extended for Paycheck Protection Program (PPP)
On March 11, 2021 President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021. An additional $7.25 billion was allocated to the PPP, which was expanded to include underserved small businesses and other organization previously ineligible; however, there was no provision to extend the application deadline of March 31, 2021. Given the changes to the program, three weeks left little time for businesses to apply for, lenders to approve, and the Small Business Administration (SBA) to process new loans.

Yesterday, March 30, 2021, President Biden signed the PPP Extension Act of 2021. Applicants now have until May 31, 2021 to apply for the forgivable loan program. The Act also provides the SBA with an additional 30 days beyond the new deadline to finish processing applications.

At Price Kong, we are ready to help navigate these changes and answer any questions you may have regarding the PPP loan process, including filing for forgiveness. Contact us at 602.776.6300 or [email protected].
Price Kong was established in Phoenix in 1967. Since then, our team has grown to 50 professionals and includes seventeen CPAs. The depth of our audit and tax practices allows us to provide services to clients in numerous industries, of a wide-range of sizes, and with revenues ranging from $1 million to over $500 million.

Price Kong is committed to providing personalized service and advice to our clients. Our full range of accounting and consulting services enables us to assist clients with understanding unique situation and ensure they receive expert support, regardless of the engagement or project. Price Kong is a member of Allinial Global, a consortium of 90 North American Certified Public Accounting firms, and numerous professional and industry organizations.