Paycheck Protection Program Closed to New Applications

The Payment Protection Program (PPP), the federal program designed to help keep small businesses open during the COVID-19 pandemic, closed to new applications on Friday, May 28, 2021. And though the program has closed, the Small Business Administration (SBA) has another month to process applications.

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The information contained in this article is intended for educational purposes and to provide a general understanding of regulatory events, legislative changes and the law – not to provide specific legal advice. Employers are advised to discuss and/or receive counsel from their licensed legal or accounting professional, prior to implementing any new policy or policy change.