The House of Representatives recently voted 415-3 to extend the loan application deadline for second draw (PPP2) loans from March 31 to May 31, 2021. The Senate has approved the legislation and the President has signed it into law.
This action came after intense prodding from dozens of business groups, including the ADA and AICPA. These groups cited the need for additional time due to PPP2 loan processing delays, resulting from more stringent anti-fraud screening measures and program changes made by the new Biden administration.
These changes were aimed at...
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